Organization Root Tag

Community development financial institutions could stand to gain from efforts to modernize the Community Reinvestment Act, but they fear the proposal offered by regulators may end up draining their capital.

Documents released by the Office of the Comptroller of the Currency Thursday allege that senior leaders had reason to know that the wrongdoing was widespread but failed to act.

Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks.

The promotion of Melinda Chausse was one of several leadership changes the Dallas company announced this month.

There are no provisions in a new NCUA plan that outright bar credit unions from leveraging subordinated debt to acquire a bank. The long-awaited rule on bank purchases, also released Thursday, merely clarifies existing regulations rather than adding new components.

JPMorgan Chase gave its chairman and CEO a 1.6% hike in total compensation in 2019 after a second consecutive year of record profits.

The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments.

With Synchrony smarting over the loss of Walmart and Verizon facing heat from T-Mobile's payment app, a card partnership was a natural fit.

The investment bank's new CashPlus Account comes with a mobile banking app, a debit card, online bill payment and other banklike features.

Calculating the average U.S. phone bill to be around $80 a month, San Francisco-based Digit has established a way for consumers to more easily set aside money for that expense.

Regulators already finalized a rollback of the proprietary trading ban section of the rule but signaled then that their overhaul was not finished.

Square's merchants have shown early interest in cryptocurrency payments, and if merchants accept this new concept, it could exist along with other Square services to support numerous use cases, including broader financial services.

In a move to increase the attractiveness of its Real-Time Payment network, The Clearing House is raising the transactional limit for single payments to $100,000 starting Feb. 1.

The Vermont senator lashed out at the JPMorgan Chase chief on Twitter after Dimon criticized socialism in an op-ed published earlier this week in Time magazine.

Former CEO John Stumpf agreed to pay a $17.5 million penalty while ex-community banking chief Carrie Tolstedt faces a potentially $25 million fine for sales-practices misconduct. Other former officials could face fines totaling $16 million.

In a move to increase the attractiveness of its Real-Time Payment (RTP) network, The Clearing House is raising the transactional limit for single payments to $100,000 starting February 1, 2020.

Data from the Credit Union National Association indicates the rule has decreased lending and increased costs as institutions work to stay compliant.

A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards.

An early warning system for bad bank loans is taking effect this year. Beware false alarms.

It might sound like a risky strategy at a time when millions of Americans are drowning in debt, but that's exactly what big banks have been doing lately.