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Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.
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The bank is using Aliaswire’s integration of its BillerDirect platform with Mastercard Bill Pay Exchange to power transactions across multiple channels.
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The card brands have blocked Russia's large banks from their networks in response to the Ukraine invasion, a move that may dramatically limit retail transactions and cash availability at ATMs.
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Lawmakers in New Mexico recently approved a stringent rate limit, and similar efforts are underway in Rhode Island and Michigan. The state-level actions are among the "numerous headwinds" facing high-cost lenders, one analyst said.
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The New York bank recently converted 3 million GM Rewards cardholders to its Marcus app, the next phase of its plans to offer more banking services in unexpected places.
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Richard Adams Sr. will step down from United Bankshares' top job on April 1, after 47 years. Current President Richard Adams Jr. will take over.
