In this week's banking news roundup: NCUA grants Tribe Federal Credit Union a provisional charter; ICBA Payments names Jacob Eisen its new president and CEO; Mission Fed Credit Union announces new role for longtime leader Steve Hasbrooke;…
The bank backed off its ban on lending to companies that make assault-style guns used for non-military purposes. Instead, the firm will now make such decisions on a case-by-case basis with senior risk officers.
The rise of ecommerce and vertical software-as-a-service platforms are prime opportunities for large banks to sell payment processing, card issuance and other banking capabilities.
Atlanta Postal Credit Union's bid to acquire Affinity Bank marked the 11th deal overall this year involving a credit union buying a bank, matching the total for all of 2023. Separately, members voted against the merger of two credit unions…
Retailers like Walmart, Target and Dollar General are changing the ways they collect payments in person. This, in turn, could influence payment habits, but it is unlikely to slow the overall momentum of digital transactions.
A former Consumer Financial Protection Bureau senior counsel argues that the agency needs to renew its focus on institution-building, in order to create a stable foundation on which the financial services industry, as well as its own…
The beleaguered Los Angeles-based bank reported its strongest quarterly results in more than a year, but executives at its Canadian parent company cautioned that improvements may not be linear.
Gesa Credit Union in Washington agreed to acquire a 103-year-old community bank in Centralia, as it eyes opportunities for additional growth in the Pacific Northwest. In the District of Columbia, a bank group is calling for exit fees on…
Shan Hanes, who led Heartland Tri-State Bank in Kansas until it failed last year, pleaded guilty to one count of embezzlement by a bank officer. He now faces up to 30 years in prison. He is scheduled to be sentenced on Aug. 8.
A new tool from the San Francisco-based fintech deploys artificial intelligence to automatically adjust merchants' card transaction fraud filters based on changing risk factors in real time.
OpenAI is training a new flagship AI model to replace the one behind the wildly popular ChatGPT. It seems like a good time to ask, if financial users could design their own generative AI model from scratch, what they would want?
The Supreme Court decided to rule narrowly in Cantero v. Bank of America Corp., sending the case back to the Court of Appeals for the Second Circuit with instructions to perform a more nuanced analysis on whether a New York escrow law…
Payment firm BVNK is betting that PYUSD's potential to connect to PayPal's network of millions of consumers and businesses will make it more than another investment currency.
Effective coaches understand that the same message, delivered at different points in an employee's career, can resonate in new ways as they gain insight and experience.
The retail giant has scrapped its credit card partnership with Capital One, its second public spat in recent years with a partner bank. Analysts say it may be a sign that Walmart wants to launch its own credit card on what it hopes will be…
The Toronto-based company's U.S. banking segment continues to face headwinds from muted loan growth and higher deposit pricing. Net income for the division tumbled by more than 25% last quarter.
Leaders of financial institutions and industry trade groups are working together to provide impacted communities across the U.S. with basic necessities and quick, online emergency loans.
A federal judge in Texas is locked in a back-and-forth with an appeals court over whether the industry's challenge to a cap on credit card late fees should be moved to Washington, D.C.
The Federal Deposit Insurance Corp.'s Quarterly Banking Profile for Q1 showed that banks' net income margins got a boost, but FDIC chair Martin Gruenberg said concerns around inflation, interest rate volatility, and geopolitical…
Recognize high-achieving women in the pipeline and celebrate diversity across the industry. Nominate a female executive who is age 40 or under for Most Influential Women in Payments: Next.
The Swedish financial institution argues over potential regulations that treat buy now/pay later lending like credit cards in the U.S; Discover seeks the next hot market for real-time payments; and more.
The Illinois state legislature, as part of an agreement with retailers to raise state tax revenue, passed a budget bill that would bar the collection of interchange fees on sales taxes, excise taxes and tips for transactions that would be…
Beth Hammack, who stepped down as the bank's co-head of global finance earlier this year, will take the helm as President of the Federal Reserve Bank of Cleveland later this summer following the retirement of longtime President Loretta…
The Securities and Exchange Commission's overly broad expansion of the Dealer Rule is only the latest example of the agency's yearslong effort to stifle innovation in a vibrant and growing industry.
The financial services industry has largely recovered from the negative shocks of the 2008 financial crisis. Still, the results from the most recent release of the Edelman Trust Barometer found that banks need to address a significant…