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Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

Lawmakers’ attempt to stall the OCC’s final rule, preventing regulators from reforming a 1977 law meant to help underserved communities, does far greater harm than any changes that are raising objections, says the acting comptroller.

U.S. banks are taking too narrow of an approach when disclosing their exposure to climate risk and are potentially underestimating possible losses, according to a report released Monday.

But the stimulus-fueled improvement is making it more difficult for lenders to assess risk; two regional bank presidents are worried that low-rate policies are giving rise to excessive risk taking.

The industry supports candidates on both sides of the aisle but has tilted toward Democrats during this cycle. Experts say that's partly a reflection of the current makeup of Congress.

Daily edition for October 19, 2020.

In too many places, identity verification and other vetting is still done manually, says Signicat's John Erik Setsaas.

Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.

MagicCube has launched i-Accept, a software-based replacement for traditional terminals, allowing acquiring banks and financial services providers to offer merchants an option for contactless and PIN payment acceptance through Android devices.

Over the past year, the Alabama bank has been developing new tools that analyze survey responses, phone interactions and social media posts to identify opportunities to improve digital offerings.

First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.

Jamie Dimon, the chief executive of JPMorgan Chase, said he’s optimistic a Biden presidency could solve problems including health care and economic inequality without damaging businesses.

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

The auto lender says consumers’ skittishness about flying and using public transit during the pandemic has fueled a surge in demand for new and used cars. But executives remain wary of high unemployment and the potential for a rise in loan defaults.

USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read stories.

The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.

Plaid said it has been in discussions with TD Bank over allegations of trademark infringement and false advertising and was caught off-guard by the lawsuit the bank filed Wednesday.

With the U.K. careening toward a no-deal Brexit in the midst of a health crisis and economic downturn, the government is suggesting a breakup with the EU could defray the costs of cash usage and access.