Banking

A debate is brewing about whether rising rates mean banks must pay more to hold onto deposits from city and county governments — and whether they are worth it. Some would say no question on both counts, while others say it all depends on the financial strategy of the client and how badly the bank needs that client.

Camden R. Fine and the Independent Community Bankers of America would be better off if they spent more time protecting community banks and less time attacking credit unions.

House legislation to reverse a federal court decision on state interest rate caps would increase access to credit, not expand predatory lending as critics have argued.

“Why we think we know better or how to protect consumers in your state surprises me,” acting CFPB Director Mick Mulvaney told a group of state attorneys general. “I don’t think we’ll being do much of that anymore.”

Members at the Indiana-based credit union have won nearly $18,000 by participating in Save to Win, which rewards members who save money with the credit union.

A look back at some of the highlights from the Credit Union National Association's 2018 Governmental Affairs Conference.

Iowa lawmakers are considering a bill that would lower taxes for banks and impose a franchise tax on credit unions. The move could be a bellwether for other states looking at similar measures.

A better camera should mean more accurate facial recognition. Will it spur more banks to embrace the technology?

Kathleen Henry and Steven Antonakes have been named to the bank's management committee.

The information you need to start your day, from PaymentsSource and around the Web. Today: Walmart starts a new delivery service; Pinterest hires former Square data expert; Visa expands wearable payments; Mastercard works on in-car payments.

Powell says he backs raising the SIFI threshold and easing capital requirements for big banks; Mulvaney says agency will weigh costs of compliance for lenders.

Limited data on fraud is a widely recognized issue and it was decided that incorporation into PSD2 was the most appropriate way to enforce a requirement, writes Matthew Attwell of The ai Corporation.

Two House Democrats are asking the Pentagon for information about its contacts with Stephen Calk, CEO of a small Chicago bank that made $16 million in mortgages to President Trump's campaign manager.

Comptroller of the Currency Joseph Otting said reform of Community Reinvestment Act regulations is a "key element" of how regulators aim to recalibrate rules a decade after the financial crisis.

The bank will spend an additional $1.4 billion on technology in 2018 to gain share and boost efficiency, executives said Tuesday. But they were peppered with questions about whether the big investment will yield a big financial return down the road.

Federal Reserve Chair Jerome Powell largely hewed close to his predecessor's positions in his first congressional testimony as the top central banker, but also signaled important changes when it came to paying banks interest on reserves and other topics.

The tax reform law passed late last year, which significantly cut the corporate tax rate, has been widely popular among banks, but a one-time hit to the value of their deferred tax assets was felt far and wide.

Acting CFPB Director Mick Mulvaney dismissed concerns by Sen. Elizabeth Warren, D-Mass., about his leadership of the consumer agency while supporting a lighter regulatory touch for credit unions.

Aspiration Bank relies on software tools to pull data from diverse sources to prevent fraud in account applications.

Lawmakers should consider taxing large, banklike credit unions that have strayed from their original fields of membership, argues a credit union executive.