March 8, 2023
PR NewswireAite-Novarica Group research reveals that payments is an important area of growth and innovation within the commercial banking space, and legacy systems cannot support end-user demand for better payment capabilities. Almost half of banks surveyed say fintechs, which typically provide […]
Activity, Corporate Banking, Regulations
March 7, 2023
Banking DiveA class-action lawsuit filed against Bank of America last month claims the bank misrepresented the amount of pandemic aid small business owners were eligible for, leaving firms saddled with unforgivable debt. Three California-based small businesses — Happy Puppy LA, Brandamize […]
March 7, 2023
FinTech FuturesReady or not, the genie is out of the bottle and there is no going back. From digital art and journalism to gaming and marketing tech, every industry is being disrupted. Open AI’s ChatGPT, in particular, stole the limelight after […]
March 6, 2023
Insurance JournalA Texas lawmaker is seeking to broaden the fight against ESG (environmental social governance) policies by imposing further limits on the types of investments state pension managers can make and restricting shareholder proposals that would dictate insurance companies’ business with […]
March 6, 2023
FinTech Futures1. Artificial intelligence (AI) and machine learning (ML) As cybercrime continues to become more sophisticated, banks are adopting technologies that can keep up with the threats. AI and ML are among those technologies that are playing an important role in […]
March 3, 2023
Banking DiveCiti is cutting hundreds of positions, including some in investment banking, mortgage underwriting and technology, Bloomberg and Reuters reported Thursday. The cuts represent less than 1% of the bank’s headcount, people familiar with the matter told the wire services, adding […]
Capital and Risk, Macroeconomic
March 3, 2023
American BankerRepublicans on the Senate Banking Committee are keeping a watchful eye on the Federal Reserve’s ongoing review of bank capital requirements. Sen. Tim Scott, R-S.C., the ranking member on the committee, sent a letter to Fed Chair Jerome Powell on […]
March 2, 2023
YahooU.S. Bancorp (USB) closed at $47.31 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500’s daily loss of 0.47%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, […]
March 2, 2023
American BankerAs more credit unions take steps to improve diversity, equity and inclusion, executives and other experts are debating how much progress has been truly made since the death of George Floyd in 2020. The culture war dominating the political news […]
March 1, 2023
FinTech FuturesNationwide will utilise Board’s Intelligent Planning solution to upgrade “vital” financial planning processes and systems across multiple use cases. The switch will enable the building society to deliver “better insights for our teams, and ultimately better outcomes for Nationwide’s members”, […]
March 1, 2023
American BankerThe Treasury announced on Wednesday it will form a working group with the Federal Reserve and other agencies to shape global central bank digital currency standards amid ongoing interest in a digital dollar, said Under Secretary for Domestic Finance Nellie […]
February 28, 2023
CNSNews.com“I will make no apologies that we are investing to make America strong. Investing in American innovation, in industries that will define the future, and that China’s government is intent on dominating,” said President Joe Biden at his State of […]
February 28, 2023
YahooU.S. Bancorp (USB) said in a filing Monday that the Consumer Financial Protection Bureau (CFPB) is considering a potential enforcement action against the bank as part of a previously-disclosed probe into its administration of unemployment insurance benefit prepaid debit cards […]
February 28, 2023
YahooU.S. Bank announced today that it has added portfolio optimization capabilities to its Pivot client platform, giving collateralized loan obligation (CLO) clients comprehensive insights for faster and more effective trading. Using a set of criteria selected by the client, Pivot […]
February 27, 2023
CNSNews.comThe Heritage Foundation’s 2023 Index of Economic Freedom, released Monday, offers sobering insights into setbacks to economic freedom across the globe, including, regrettably, here at home. Since its inception in 1995, the index—an annual global study that compares countries’ entrepreneurial […]
February 24, 2023
Insurance JournalUkraine will offer compensation for possible damages to civilian vessels entering its ports, Deputy Prime Minister Oleksandr Kubrakov said on Friday, as Kyiv tries to boost exports that are vital for its war-hit economy. Ukraine is a major producer and […]
February 23, 2023
FinTech FuturesWhen registering with the CSA, it says crypto exchanges must have enhanced protections for the custody and segregation of crypto assets for Canadian clients and a prohibition on offering margin, credit or other forms of leverage. Platforms are also prohibited […]
February 23, 2023
Insurance JournalA New York appeals court last week upheld the dismissal of Madison Square Garden’s Covid-19 business interruption claim against Factory Mutual Insurance Co. The court agreed with a New York County court’s dismissal in January, 2002 after it found that […]
February 22, 2023
TechBullionThe world of forex can be lucrative if you know what you’re doing, but it certainly isn’t a get-rich-quick scheme. It takes time and dedication to get good, and chances are you will lose more than you make at first. […]
February 22, 2023
Bank DirectorAmong the biggest stories in tech remains the astonishing advancement in artificial intelligence, or AI, over the past several months. While AI has been evolving for a very long time, its latest iterations and implementations have reshaped how people think […]