- + Oldest credit union in U.S. keeps battling big banks, scamsters —St. Mary's Bank in New Hampshire tries to serve members as it has for 116 years, while dealing with today's cybersecurity and fraud concerns. [Categor...
- + Kentucky bank ATM dispenses fake $100 bills —Independence Bank of Kentucky said 14 customers had reported receiving the bills, which included text such as "for motion picture purposes." [Category...
- + Upstart is emerging from its nuclear winter, CEO says —The company, a pioneer in AI-based lending, says improvements to its models and long-term commitments from the banks it works with will bring about po...
- + How credit unions are staying relevant in the BNPL space —As member demand for installment payments increases, resource-strapped institutions are looking for outside help. Fintechs offer the service. [Categor...
- + How credit unions are staying relevant in the BNPL space —As member demand for installment payments increases, resource-strapped institutions are looking for outside help. Fintechs offer the service. [Categor...
- + Sterling in Michigan to sell bank for $261 million —EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as pla...
- + Citigroup to sell trust services unit to JTC for $80 million —Citigroup Inc. is selling its global fiduciary and trust administration services business to JTC as the U.S. bank's wealth arm focuses more on the lik...
- + Banks must get serious about measuring and mitigating AI-related risk —Artificial intelligence is going to be integrated into the financial system. So, banks need to be clear-eyed about its potential dangers, and proactiv...
- + Will regulators hit the gas or brakes on remaining post-Basel reforms? —Federal Reserve Vice Chair for Supervision Michael Barr conceded major points to the industry on last year's capital reform proposal. But how regulato...
- + Bank investors' worry after Wells Fargo AML action: Who's next? —A new OCC action over the megabank's anti-money-laundering guardrails, which follows news of seemingly more severe lapses at TD Bank. is raising conce...
- + Federal banking agencies extend comment period on bank-fintech risks —Banks now have until Oct. 30 to weigh in on potential risks of third-party fintech partnerships for banking products and services. [Category: Regulat...
- + Turning community bank employees into AI enthusiasts —Community bankers have found that demonstrating efficiency, providing proper training and describing use cases can help get employees on board with AI...
- + How banks can overcome challenges of cash flow underwriting technology —At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on ban...
- + How Fifth Third is embracing hot payment trends —The bank's acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time pro...
- + BMO wins appeal in high-stakes Ponzi scheme case —The Canadian bank said it expects to recover hundreds of millions of dollars after a three-judge appeals panel found that it cannot be held liable in ...
- + BNY acquires Archer, Old National drops 'interim' tag from its CFO —BNY has acquired managed-account software company Archer; Old National Bancorp has removed the "interim" tag from Chief Financial Officer John Moran; ...
- + Bank stocks stall amid new threat to profitability —Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income. [Category: Bank stocks , ...
- + What bankers need to know about Trump's World Liberty Financial —The crypto company founded by Donald Trump's sons will officially launch Monday. [Category: Donald Trump , Technology , Cryptocurrency ] [Link to m...
- + 'Kamalanomics' presents a major growth opportunity for US banks —Banks should embrace Kamala Harris' effort to drive sustainable, equitable economic growth. Doing so will open them up to underserved communities wher...
- + Experts weigh the possible benefits of DSIB designation —Acting Comptroller of the Currency Michael Hsu's suggestion that regulators designate certain midsize regional banks as domestic systemically importan...
- + Experts debate the possible benefits of DSIB designation —Acting Comptroller of the Currency Michael Hsu's suggestion that regulators designate certain midsize regional banks as domestic systemically importan...
- + Is U.S. Bancorp ready to turn the corner after years of rising costs? —Executives at the super-regional bank told investors Thursday that years of investments are poised to start paying off in rising profits. But the mark...
- + How AI can raise morale for employees and 'break them free' —The Treasury department's chief AI officer said on a panel on Thursday that AI can relieve the burden of mind-numbing activities such as anomaly detec...
- + Despite M&A lull, United Community still seeking deals —The South Carolina-based bank considers itself a buyer, but has put the 17 months since announcing its last acquisition to good use, reassessing multi...
- + Senate Democrats take on fintechs and their partner banks —A letter led by Sen. Elizabeth Warren, D-Mass., urges bank regulators to crack down on banking as a service, while another led by Sen. Jack Reed, D-R....
- + Wells Fargo gets hit with new AML enforcement action —The penalty by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which was freed from a separate anti-money...
- + Inside Mastercard's $2.65 billion bet on digital security —As the toll of financial crime rises, the card network is attempting to boost its fraud-fighting game by buying threat intelligence firm Recorded Futu...
- + CFPB bans Navient federal student loan servicing, issues $120M fine —Consumer Financial Protection Bureau director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae sp...
- + Mortgage rates move as FOMC cut looms —The 30-year fixed rate mortgage fell week-to-week by the largest amount since the start of August and are now almost a percentage point lower than a y...
- + Lending, AI, outreach: What you'll see at Small Biz Banking 2024 —Executives from JPMorgan Chase, TD, U.S. Bank, M&T and other banks will gather to discuss how they serve small business clients, what those custom...
- + The CFPB is funded by the Fed's profits. Trouble is, there are none —The law that created the Consumer Financial Protection Bureau stipulates that the agency must be funded by the central bank's earnings. But, the Fed h...
- + Activists to JPMorgan Chase, BofA, Citi: Stop lending to factory farms —A coalition of 105 organizations has analyzed the flow of financing to large, greenhouse-gas-emitting livestock operations and found these three banks...
- + CFPB hits TD Bank with $28M in penalties for credit-reporting abuses —The latest violations come as the bank expects to face more than $3 billion in regulatory fines for anti-money-laundering failures. [Category: Regula...
- + Watchdog probe says Atlanta Fed president created 'appearance' of impropriety —The Federal Reserve's inspector general says the reserve bank CEO did not trade on confidential information or have conflicts of interest, but did vio...
- + Fed will cut rates, but question is how often and how much —The latest inflation news is almost sure to result in a 25 basis point cut next week, but some are still hoping for 50 basis points, as well as reduct...
- + Inflation rates ease in election battlegrounds —Lower inflation doesn't equate to lower prices, and costs of living may still be higher than pre-pandemic, especially rents. But the varying cooldown ...
- + Fraud rate declines yet costs consumers more —Banks and consumers report fraud at higher rates than they did before the pandemic, and those cases have continued getting costlier. [Category: Fraud...
- + Finding value in AI: Lessons for banks from industry leaders —As banks deploy AI to cut costs, some face pressure to define long-term value, Finovate speakers said this week. [Category: Artificial intelligence ,...
- + M&T is feeling 'really good' about CRE loans as rates start to fall —The regional bank has already seen a large reduction in "criticized" loans, and it expects that trend to pick up as lower borrowing costs alleviate th...
- + Connecticut private bank draws regulatory ire —Fieldpoint Private Bank & Trust and its parent company entered a written agreement with state and federal supervisors pledging to address several ...
- + Visa pushes 'pay by bank' in the UK; Klarna faces AML heat —The card network is building a model for account-to-account payments, which are gaining popularity, while Swedish regulators criticize Klarna's money-...
- + Visa pushes 'pay by bank' in the U.K.; Klarna faces AML heat —The card network is building a model for account-to-account payments, which are gaining popularity, while Swedish regulators criticize Klarna's money-...
- + Mutuals see a big future in Cincinnati bank's small private placement —Advocates for depositor-owned banks hope Warsaw Federal's $5 million capital raise will serve as a template for institutions in need of more capital t...
- + Core U.S. inflation picks up, damping odds of outsize Fed cut —Underlying U.S. inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Res...
- + Across asset classes, the top-performing banks aren't those you expect —When it comes to delivering superior return on average equity, smaller banks frequently punch above their weight, according to a recent study by Capit...
- + Warren Buffett's Bank of America stock sales slow after price declines —Berkshire Hathaway began selling BofA shares in July and has whittled its stake down to just above 11%. [Category: Bank stocks , Wealth management ]...
- + 'Show them death and they'll take despair': Banks not sold on Basel III redux —Large banks welcomed regulators' proposed changes to last year's controversial reform package, but remain skeptical about the need for more capital. [...
- + Harris, Trump clash on taxes in debate light on economics —Vice President Kamala Harris sought to outline proposals on housing and a child tax credit, while former President Donald Trump highlighted an aggress...
- + CFPB assistant director talks housing czar, junk fees and AI —The Consumer Financial Protection Bureau's Assistant Director of Mortgage Markets admits there's room to improve coordination between housing agencies...
- + Truist hits reset button after falling short on key profit metric —The North Carolina bank lowered its medium-term target for return on tangible common equity target, reflecting the fact that the financial projections...
- + JPMorgan shares fall after it reins in expectations for next year —The largest U.S. bank will likely record lower net interest income and higher expenses in 2025 than Wall Street had forecast, a top executive said Tue...
- + Bowman critiques stress tests for volatility, duplicity and opacity —Federal Reserve Governor Michelle Bowman called for reforms to reduce volatility, increase transparency and address overlaps in stress tests and capit...
- + Rep. Barr floats bill to limit regulators' freedom to join global groups —A bill from Rep. Andy Barr, chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, would make it harder ...
- + KeyBank launching AI copilot to help dentists drowning in paperwork —The bank has partnered with a fintech, Zentist, to give dentists a system that automates insurance and billing processes. [Category: Artificial intel...
- + Basel III isn't about SVB anymore, and it never should have been —In his reset of the Basel III endgame proposal outlined Tuesday, Federal Reserve Vice Chair of Supervision Michael Barr deemphasized the connection be...
- + Regulators ready to narrow scope, lower capital in Basel III re-proposal —Federal Reserve Vice Chair for Supervision Michael Barr outlined the changes he and other regulators would like to see to the capital reform plan, inc...
- + Camden National to acquire New Hampshire bank in all-stock deal —The Maine-based bank's bid for Northway Financial was valued at $86.6 million. It is expected to be finalized in the first quarter of 2025. [Category:...
- + NBT to keep Evans branch offices after $236 million merger —The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets. [Category: M...
- + How payment firms are responding to CFPB pressure —As the Consumer Financial Protection Bureau increases scrutiny of earned wage access, cash-back fees and airline rewards, industry lobbyists are pushi...
- + Ally's stock drops 15% as its credit challenges grow —A top executive at the auto lender said that more borrowers struggled to repay their loans over the summer amid inflation and a tougher job market. La...
- + Freddie Mac names Diana Reid as permanent CEO —The successor to Michael Hutchins, who filled the role on an interim basis, guided a well-known bank's real estate business through the financial cris...
- + Chopra: Technology may cut both ways as refinancing returns —Consumer Financial Protection Bureau Director Rohit Chopra will be looking at whether automation accommodates or undermines potential savings from ref...
- + Regulators ready to narrow scope, lower capital in Basel III re-proposal —Federal Reserve Vice Chair for Supervision Michael Barr outlined the changes he and other regulators would like to see to the capital reform plan, inc...
- + The FDIC should avoid a fact-free debate on brokered deposits —The agency's recent proposal to redefine "brokered deposits" requires a debate over the performance of different kinds of bank deposits. The problem i...
- + 20 US banks with the largest CRE loan volume in the second quarter —The top five banks had a combined commercial real estate loan volume of nearly $500 billion at the end of the second quarter. [Category: Commercial r...
- + Bank of America raises minimum wage to $24 an hour —BofA is taking the next step toward a 7-year-old goal of paying $25 an hour by 2025. [Category: Compensation , Commercial banking , Minimum wage ] ...
- + The top 20 banks by reputation —After a turbulent 2023, regional banks are gradually restoring public trust in 2024, with confidence in financial stability rising alongside calls for...
- + The public is regaining trust in regional banks —The banking industry's public reputation recovered moderately in 2024 after a string of regional bank failures depressed confidence in the industry th...
- + It's time for the US to withdraw from the Basel capital accords —The Basel capital rules long ago proved themselves to be ineffective and unwieldy. A former FDIC chairman said that history offers us a better alterna...
- + Key uses Scotiabank cash to offload billions in low-yielding bonds —Profits at Cleveland-based KeyCorp have suffered due to bonds it bought when interest rates were low. But a recent investment by Canada's Scotiabank...
- + Huntington expands corporate financing for mortgage companies —The bank has brought in mortgage industry veteran Ken Logan as senior managing director to oversee a broader range of financing it's offering to home ...
- + New York community banks reach $236 million deal to merge —The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets. [Category: M...
- + Audit teams missed risks of material misstatement by banks —The Public Company Accounting Oversight Board staff released a report Monday on last year's banking crisis. [Category: Audit , PCAOB , Audit prepar...
- + Are banks saving money as they migrate to the cloud? What you need to know —Banks are finding that they rarely save money off the top when they migrate applications to the cloud. The more substantial benefits are about product...
- + FinCEN analyzed 15,000 check fraud cases. Here's what they found. —The bureau studied mail theft-related check fraud and found that fraudsters often know to manipulate checks and avoid branches. [Category: Fraud ] [L...
- + Five things to watch for in Barr's Basel III endgame speech —After months of anticipation, Federal Reserve Vice Chair for Supervision Michael Barr is set to lay out the path forward for the interagency regulator...
- + Huntington to build 55 new branches in the Carolinas —The Ohio-based bank said it would hire 350 people to operate retail banking and wealth management businesses in a region where it recently launched co...
- + How AI makes biometric payments riskier —Crooks can use deepfakes and other machine learning tools to circumvent traditional authentication security methods. Payment experts discuss how firms...
- + Eagle in Maryland sets table for turnaround —The bank faced credit setbacks in the nation's capital and margin pressure this year. But it made a series of new hires to reduce risk and diversify i...
- + Big banks' closed branches are community bankers' big opportunities —Branches are being closed at a record pace because of mergers and financial reasons. If a closed branch is in a good location and meets certain other ...
- + How Trump could turn a $400 billion green bank into a fossil fuel lender —Emerging clean technologies championed by the Biden administration — ones that commercial banks may be too risk-averse to back at the scale needed — s...
- + Fraud against banks, consumers declines in 2024 —Reports of fraud committed against financial companies are on pace to, for the first time, fall this year compared with 2023. Consumer reports of frau...
As of 9/16/24 4:06pm. Last new 9/16/24 4:06pm. Score: 585
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