Organization Root Tag

Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.

The reported reversal comes after the industry worried verifying citizenship would strain banks and push customers out of the system.

The Financial Crimes Enforcement Network is charged with protecting the U.S. financial system, but its failure to implement a whistleblower program authorized in 2022 leaves the agency unable to capitalize on a key source of intelligence.

Royal Bank of Canada is rolling out AI across its businesses in an effort to become more efficient and generate more revenues. The Toronto-based bank recently created an internal AI accelerator that directly reports to CEO Dave McKay.

U.S. Bank's merchant acquiring group this week named Wally Mlynarski — formerly of Bank of America and a former executive at Evalon — to the top job as AI sweeps over the industry and with fintechs and traditional rivals ready to pounce.

The Federal Deposit Insurance Corp. rolled back a 2009 policy that banned nonbanks from buying failed banks, a move the agency says aims to widen the bidder pool and cut failure costs.

The SEC is reportedly preparing a proposal that would give banks and other companies the option to report their earnings every six months, adding urgency to a long-running debate over how firms communicate with investors.

Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.

Fannie Mae and Freddie Mac's single-family updates include some roof coverage options somewhat similar to what's used in one of their other divisions.

Federal Deposit Insurance Corp. Chair Travis Hill said in remarks Wednesday that privacy and know-your-customer gaps remain for banks that work with public, permissionless blockchains, and that the agency may need to clarify how banks can interact with them. 

The 2023 takeover of Credit Suisse boosted UBS's size but also saddled it with the challenge of integrating vast operations.

The Trump administration wants to reverse fair-lending laws; the Fed's rate setters will do exactly what they've already told everybody they're going to do.

The former Rocket employee said she faced pressure to resign after requesting remote-work accommodations and leaves of absence to deal with health conditions.

In an interview at ICE Mortgage Technology's annual conference, Bob Broeksmit also expressed skepticism of market dominance among just a few large lenders.

The agency issued an advanced notice of proposed rulemaking for prediction markets shortly before Arizona filed criminal charges against Kalshi on Tuesday.

Three years after acquiring Bank of the West, BMO is preparing to open 130 branches in the Golden State, where it thinks it can achieve density and critical mass. The Toronto-based bank also plans to open 15 branches in Arizona.

A Federal Housing Finance Agency report suggests it should have more authority over companies that work with Fannie Mae and Freddie Mac.

BVNK's technology enables traditional currency and stablecoins to work together, and will enable the card network to improve distribution for clients that use digital assets.

The Federal Open Market Committee is widely expected to keep interest rates steady when it concludes its regular meeting tomorrow, but rising uncertainty about inflation in the wake of the Iran war is clouding the monetary policy outlook.

State attorneys general sued the Department of Housing and Urban Development as well as lender OneMain Financial; M&T Bank CEO Rene Jones talks about the changing nature of money, and the stone money of Yap.