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The credit union suffered a ransomware attack in June 2024 that affected nearly all of its banking systems.
February 4
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The senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.
February 4
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The president's rough-and-tumble trade negotiations have throttled financial markets, causing investors to flock to the safety of dollars and Treasuries. But some economists say this style of policymaking could have hurt the U.S.'s safe haven status in the long run.
February 4
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The finance arm of the Detroit automaker has resubmitted its application for an industrial loan company charter to the Federal Deposit Insurance Corp. after withdrawing its prior application last year.
February 4
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Small lenders beset by the fallout from high interest rates took losses in the fourth quarter when they unloaded underperforming securities and loans. But they are reinvesting the proceeds into higher-yielding assets.
February 4
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The Federal Reserve Board lifted two enforcement actions against the megabank dating back to 2011. But the Fed's seven-year-old asset cap remains in effect.
February 4
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A letter from three law firms retained by Coinbase argued that existing federal laws and regulations already authorize banks to provide cryptocurrency services and to engage with third-party service providers like Coinbase.
February 4
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The House Financial Services Committee released a draft resolution under the Congressional Review Act to cancel the Consumer Financial Protections Bureau's rule limiting bank overdrafts to $5 in most cases.
February 4
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With analysts citing pressure from fintechs, CEO Alex Chriss says artificial intelligence is expanding the company's payment and marketing tools as PayPal battles Stripe, Block and other rivals.
February 4
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Desmond will be succeeding Pierre Naudé in leading the bank technology provider.
February 4
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Long-term partnerships between banks and fintechs are the real future of financial services. Pharmaceutical firms' relationships with contract research organizations offer a useful model.
February 4
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Donald Trump's second administration is widely expected to be far less skeptical of bank mergers than the Biden administration has been, but industry experts say that political opposition to big bank mergers and business considerations will still be roadblocks.
February 4
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A bill offered by Rep. Roger Williams, R-Texas, would repeal Dodd-Frank Section 1071 and eliminate any data-collection requirements for the Consumer Financial Protection Bureau.
February 4
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The Bank of America branch in Altadena burned down last month. Now the bank must determine whether customers' prized possessions survived.
February 3
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A former senior advisor at the Federal Reserve Board was arrested and charged with economic espionage for conspiring to steal trade secrets and sell them to China for $450,000.
February 3
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Christiana Riley, regional head of Banco Santander's North America region, has succeeded Tim Wennes as CEO of Santander U.S.
February 3
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The cybersecurity job market is growing fast, but aspiring professionals face barriers to entry, from experience requirements to employer demands.
February 3
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Nine bank branches, many belonging to top U.S. banks, were affected by the recent Los Angeles wildfires.
February 3
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The president directed Treasury Secretary Scott Bessent and Howard Lutnick, the nominee for Commerce secretary, to create the fund, following through on an idea Trump floated during his campaign.
February 3
