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The London interbank offered rate was a flawed benchmark, but it was nonetheless a centerpiece of finance for decades. Congress should ensure it doesn't replace one interest rate monoculture with another as Libor winds down.
July 21
Willkie, Farr & Gallagher LLP -
The Birmingham, Alabama, bank has developed artificial intelligence-based systems that can flag suspicious activity and guide customer service representatives. Amala Duggirala, the bank’s chief operations and technology officer, describes the AI work she and her team have been doing.
July 21
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The card brand's spots will focus less on credit cards and more on real-time payroll, cryptocurrency and mobile commerce.
July 21
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The gap is widening between the $144 billion-asset Navy Federal Credit Union and the rest of the industry. That’s putting pressure on smaller credit unions to bulk up through acquisitions in hopes of remaining relevant.
July 21
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The Detroit company, one of the nation's largest car lenders, enjoyed a surge in profits during the second quarter, largely due to strong consumer demand for vehicles. But how long will the good times last?
July 20
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The Pittsburgh company offset relatively flat revenue and lending in the second quarter with strong service charges, wealth management fees and a $1.1 million reserve release.
July 20
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The Office of the Comptroller of the Currency confirmed it will rescind an unpopular rule overhauling the Community Reinvestment Act and joined other agencies in calling for a renewed interagency effort.
July 20
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Commercial and industrial loans fell 14.3% in the second quarter. But CEO Chris Gorman says green shoots are emerging, pointing in particular to recent stability in credit line utilization rates.
July 20
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The Arkansas bank built the mobile-first Coin Checking to suit Generation Z and young millennials. A phone-friendly app and simplified sign-up process are among its selling points.
July 20
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Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.
July 20
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The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.
July 20
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The bank is planning to make product changes and roll out new digital tools that will allow customers to avoid the charges, according to CEO Kevin Blair.
July 20
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Graham Steele, a former Senate Banking Committee staffer who has supported strong regulation, was named as the administration's choice for assistant secretary of financial institutions.
July 20
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The European Union’s planned Green Asset Ratio, intended to reveal how much a bank lends to climate-friendly companies and projects, will offer a distorted picture of reality, according to a Bloomberg survey of some 20 major European banks.
July 20
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The Consumer Financial Protection Bureau's recent advisory on the products was mild, but some analysts say it's only a matter of time before the agency develops more prescriptive rules and targets providers for enforcement.
July 20
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The fintech's new checking, savings and lending package caters to clients who want to separate their corporate accounts from personal banking.
July 20
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The Securities and Exchange Commission accuses the company of improperly profiting from sales of the digital token XRP. Here’s how Ripple’s high-priced legal team is trying to poke holes in the government's case.
July 19
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The president's working group on financial markets met in advance of a report expected within months on growth in digital currencies pegged to the U.S. dollar.
July 19
