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Under a tax-sharing agreement, the money will eventually be divided between the holding company and an FDIC receiver, who is overseeing the remnants of the failed bank.
May 18
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Borrowers from certain nonbank lenders that have been identified as magnets for Paycheck Protection Program scams also committed check fraud at elevated rates, according to a new data analysis. Banks could use that kind of data from the pandemic-era government program to spot bad actors.
May 17
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The San Francisco bank agreed to a deal with its shareholders after allegedly making misleading statements about its progress in resolving regulatory problems. The agreement is the second-largest bank class-action settlement in history.
May 16
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End-to-end automation remains a long-term goal as banks and insurers focus on point solutions, at least for now.
May 15
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Firms across every sector are struggling with higher interest costs — making it more challenging to refinance loans and bonds — while corporate executives are drawing more scrutiny from investors and creditors.
May 15
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The Consumer Financial Protection Bureau alerted staff this week that text messages had been sent to employee personal phone numbers claiming to be from Director Rohit Chopra.
May 12
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Investors argues in suit that Jamie Dimon and other executives risked the bank's reputation in their dealings with the disgraced financier.
May 10
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The retail behemoth alleged in a lawsuit last month that Capital One fell short on customer service. But the McLean, Virginia-based bank says ending the partnership would open a path for a rival offering from a Walmart-backed fintech venture.
May 9
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Sens. Mark R. Warner, D-Va., and Mike Crapo, R-Idaho have reintroduced a bill that would deploy roughly $100 million in aid through the Community Development Financial Institution Fund to back pilot programs that would foster secondary markets for loan sales.
May 9
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The attack on AvidXchange, which the company said it learned about in early April, exposed its bank account numbers and some embarrassing security practices. It's part of a growing trend of data exfiltration attacks.
May 9
