Banking

The blockchain technology startup Digital Asset Holdings believes institutional investors have hesitated to enter the digital assets market because existing platforms lack protection and haven't properly considered regulation, according to the company's patent application for its settlement platform that was recently made public.

The Wells Fargo scandal has given cross-selling a bad name, but experts say that, done right, it is a crucial revenue driver in this era of razor-thin net interest margins. Their advice: Only sell products that customers need and compensate employees for retaining customers, not simply opening accounts.

The ramifications for a U.S. Court of Appeals decision against the CFPB’s constitutionality go far beyond just the agency’s independence, and may have consequences for other federal agencies with similar structures. The ruling may also hamper the CFPB’s powers, including its ability to retroactively apply new rules.

Regions Financial in Birmingham, Ala., has introduced an online consumer lending product that it uses technology developed by Avant.

David Weiss, senior analyst at Aite Group, weighs in on the IBM/Promontory deal and how humans and artificial intelligence programs will interact in the field of bank regulatory compliance.

Large banks are outpacing community banks in deposit gathering because new liquidity rules make deposits more valuable to the biggest banks, mobile banking has been a deposit magnet for the heavyweights, and regional and midsize players hold certain advantages over smaller rivals, too.

WASHINGTON — Financial authorities from the Group of Seven countries on Tuesday released cybersecurity recommendations for private and public entities operating in the financial sector.

The storm claimed at least 33 lives, though credit unions appear to have not suffered much — if any — significant damage.

First Tennessee Bank in Memphis said Tuesday that has promoted three executives in its Middle Atlantic region.

Fintech circles are abuzz about the possibilities for streamlining compliance work following IBM's deal to buy Promontory. Artificial intelligence software could help separate false positives from true violations, for example, or read and parse through lengthy regulations.

Enterprise Financial Services in Clayton, Mo., has agreed to acquire Jefferson County Bancshares in Festus, Mo.

The new prepaid rules make it harder for bad actors to enter the industry while also being broad enough to apply to future digital products.

Just like climate change, it is impossible to deny the gender bias in banking. Instead of sweeping bias under the rug, seek out the inequalities and unfair practices and fix them.

ATM operators have been down this road before, dealing with Mastercard's rules on EMV transactions occurring with the international Maestro debit cards as far back as 2013. But awareness and experience doesn't automatically translate to preparation.

An investor in Jumio sued Facebook co-founder Eduardo Saverin and other directors of the mobile-payment company accusing them of mismanaging the startup and duping shareholders about its prospects.

Arguably the biggest shift was that of Avid Modjtabai, the head of consumer lending, who has been named chief of the new payments group focused on digital and online offerings, investments in research and development and strategic partnerships.

More top executives at Wells Fargo will report to President and Chief Operating Officer Tim Sloan, the company announced Monday, a move that comes amid the ongoing fake accounts scandal that has led to calls for the resignation of Chief Executive Officer John Stumpf.

Birthday greetings from Facebook friends are far more dangerous than many consumers realize.

Mid Penn Bank in Millersburg, Pa., is expanding its retail presence in one of the state's fastest-growing counties.

Federal Reserve Gov. Lael Brainard said in a speech Friday that distributed ledger technology — known as "blockchain" — has great potential for the payment system and important markets, but most of those applications are still years away from maturity.