Organization Root Tag

The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken.

The industry called for modifications to the regulator's phase-in proposal on the new credit loss standard while acknowledging the broader changes it wants are up to the Financial Accounting Standards Board.

Bank of America has seen a 33% increase in cash gifts flowing through the Zelle P2P app since the start of the pandemic, with total gifting volume reaching $1 billion.

The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems.

The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.

Rob Holmes, who will join the Dallas company in January, has been the global head of corporate client banking and specialized industries at JPMorgan Chase.

A 2019 decision by Amy Coney Barrett, then a 7th Circuit judge, cited an earlier Supreme Court ruling suggesting a high bar for plaintiffs to claim harm. But other jurists have favored a less onerous standard.

Europe's largest lender could start charging for basic banking services "in some markets" because low interest rates meant they were losing money, Chief Financial Officer Ewen Stevenson said on a call with reporters Tuesday after the bank reported third-quarter earnings.

Visa’s $5.3 billion acquisition of Plaid has raised competition concerns at the U.S. Justice Department, which is nearing a decision about whether to sue to block the deal, according to two people familiar with the matter.

The global bank, which has already closed more than 30% of its U.S. branches this year, indicated that the pandemic is prompting it to adjust its plans on the fly.

Mastercard and PayPal have added to an existing partnership by using Mastercard Send to support immediate access for debit transfers via PayPal's mobile in nine European markets.

UBS Group AG plans to invest $200 million of its own money in fintech companies over the medium term in a push to further digitize its services and find new ways to engage with clients.

Click to Pay is based on EMVCo’s Secure Remote Commerce (SRC) industry standard, acting as a form of guest checkout which alleviates the need for cardholders to manually enter personal and account information to shop at unfamiliar merchants.

Ludwig, an ex-banking regulator and CEO of Promontory Financial Group, describes how economic conditions for middle- and low-income Americans have declined and advocates a living wage, investment in infrastructure, smart regulation and other solutions.

Businesses that received Paycheck Protection Program loans and Economic Injury Disaster advances discovered later they can't get full forgiveness. Lenders want the rules changed.

Spence’s promotion to president could signal that the Cincinnati banking company is grooming him as a potential successor to Chairman and CEO Greg Carmichael.

Wells Fargo is exploring a sale of its corporate-trust unit that could fetch more than $1 billion and is considering whether to find a buyer for its student loan portfolio, according to people familiar with the matter.

The Iowa company said it will pursue a two-step acquisition to address unspecified issues raised by the Federal Reserve as part of its review of the acquisition.

Speculation is part of the reason for the growing differential in market capitalization between legacy financial institutions and upstarts. But one venture capitalist says it's "a call to action" for traditional banks to match fintechs' all-digital, customer-friendly services.

The Paycheck Protection Program and encouraging digital innovation are top priorities for James Edwards, CEO of United Bank in Georgia. He also expects the American Bankers Association to promote diversity and regulatory reform in the next year.