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Tag: banking


Capital and Risk, Insurance

US neobank Oxygen switches focus from banking to health insurance in new strategy

March 11, 2024

Via: FinTech Futures

In a statement on the company’s website, Oxygen says it officially commenced the “account closure process” on 8 March, with both consumers and business users being informed that their accounts will be closed on 29 March. The firm adds that […]


Capital and Risk, Operational

The history of banking technology vs the history of banking experience

March 1, 2024

Via: FinTech Futures

Back in 1957, 1TB of storage capacity would have cost $9.2 billion, while 1TB of memory would have cost $411 trillion. Today, the same storage and memory capacity costs just $14 and $2,100, respectively. Banking has evolved in lockstep. We […]


News

Citi taps JPMorgan veteran to lead banking unit

February 26, 2024

Via: Banking Dive

Citi has appointed Viswas Raghavan as head of banking and executive vice chair, CEO Jane Fraser said in a memo Monday. Raghavan will oversee Citi’s investment, corporate and commercial banking businesses, which is one of the company’s core units. He […]


Regulations

Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls

February 20, 2024

Via: FinTech Futures

The regulator has extended the stay of its special representative at Deutsche Bank until 30 October 2024 to report on and assess the progress of the bank’s implementation of safeguards against money laundering and terrorist financing. The representative was first […]


Activity, Retail Banking

New York Fed Bank analyzes BNPL usage

February 19, 2024

Via: JD Supra

On February 14, the Federal Reserve Bank of New York (NY Fed) published a blog post evaluating different households’ use of buy now pay later (BNPL) products, which it generally described as “loans that are payable in four or fewer […]


Capital and Risk, Trading

Historic Rate Rise on Track Despite Recession, USD/JPY Contained

February 19, 2024

Via: DailyFX

Markets have not been deterred by the fact that Japan has entered into a recession, still indicating a high probability that the Bank of Japan will vote to hike interest rates by 0.1% to exit its long-standing negative interest rate […]


Activity, Capital and Risk, Credit, Retail Banking

US Bank partners Pagaya Technologies for inclusive lending with AI

February 16, 2024

Via: FinTech Futures

The partnership will see the bank adopt its partner’s embedded lending technology and credit intelligence network to induce a “second review” of a loan application should the applicant fail to meet its traditional lending requirements the first time around. A […]


News

Fortune names U.S. Bank One of the 2024 World’s Most Admired Companies

February 15, 2024

Via: Yahoo

Fortune magazine again recognized U.S. Bank as one of the 2024 World’s Most Admired Companies, naming it No. 1 in the Superregional Banks category for the 14th consecutive year. Within the Superregional Banks industry category, U.S. Bank topped the list […]


Capital and Risk, Credit

2023 Year in Review: Credit Reporting

February 15, 2024

Via: JD Supra

The CFPB’s announcement of a proposed rulemaking to remove medical bills from consumers’ credit reports, as well as the special focus placed on medical debt in its annual report, indicates that reporting medical debt will continue to be a priority. […]


Capital and Risk, Trading

Mining Your Own Business: Tax and Estate Planning with Crypto

February 14, 2024

Via: JD Supra

Cryptocurrency, a digital form of currency that uses cryptography for security, has become a significant part of the global financial landscape. As such, it has also become an important consideration in estate planning. This Dechert OnPoint provides an overview of […]


Regulations

FTC Requires Non-Banking Financial Institutions to Report Data Security Breaches

February 14, 2024

Via: JD Supra

Beginning May 11, 2024, non-banking financial institutions regulated by the Federal Trade Commission (FTC) will be required to submit notifications of data breaches or other security events that impact 500+ consumers. The FTC issued a final rule (the Rule) amending […]


News

US-based Primary Bank appoints Crystal Dionne as new CEO

February 13, 2024

Via: FinTech Futures

Founded in 2000, Ateo specialises in providing post-trade solutions, including post-trade allocation, clearing engine and APIs, for banks, brokers, dealers and the wider trading industry. The French company has been engaged in a partnership with Trading Technologies since November 2022, […]


Capital and Risk, Trading

Trading Technologies branches out into clearing with acquisition of Ateo

February 13, 2024

Via: FinTech Futures

Founded in 2000, Ateo specialises in providing post-trade solutions, including post-trade allocation, clearing engine and APIs, for banks, brokers, dealers and the wider trading industry. The French company has been engaged in a partnership with Trading Technologies since November 2022, […]


Capital and Risk, Trading

11 Best Regional Bank Dividend Stocks to Buy

February 12, 2024

Via: Yahoo

In this article, we discuss 11 best regional bank dividend stocks to buy. You can skip our detailed analysis of the banking sector and its performance last year, and go directly to read 5 Best Regional Bank Dividend Stocks to […]


Activity, Corporate Banking

Bill Holdings, Bank of America revamp contract

February 12, 2024

Via: Banking Dive

Bill Holdings had been planning on increased work from Bank of America, but now that plan is up in the air, the CEO for the bill-pay fintech said last week. Bill, which provides bill pay and other accounting software services […]


Capital and Risk, Credit

Credit unions should expect increased supervision from NCUA on overdraft/NSF fees, vendor risk, and fair lending

February 9, 2024

Via: JD Supra

On February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks addressed the 90th Anniversary of the Federal Credit […]


News

PayPal cost-cutting likely to persist

February 8, 2024

Via: Payments Dive

PayPal’s new management isn’t finished cutting costs in its pursuit of more profitable growth, according to the digital payment company’s new chief financial officer. Chiming in for the first time Wednesday during a presentation of the San Jose-based company’s fourth-quarter […]


Regulations

Reforms to Financial Laws in Administrative Procedure

February 7, 2024

Via: JD Supra

The Decree responds to various criteria issued by Mexico’s Supreme Court of Justice (the “SCJN”), which declared that several financial laws were unconstitutional. These criteria had been leveraged by participants in the financial sector to vacate fines and sanctions. For […]


News

Bank of America expects employee sabbaticals to pay dividends

February 2, 2024

Via: Banking Dive

“Sabbatical” is typically a word associated with tenured professors, who take time off to pursue intellectual pursuits. But what if you didn’t have to teach university courses to earn extended paid time off? Bank of America’s offering, launched in January […]


News

The banking industry outlook on 2024: The year of wait-and-see

January 30, 2024

Via: Banking Dive

2023 brought the most contentious proposed regulation in years: a revamp that would require the U.S.’s biggest banks to hold roughly 19% more capital than they do now. Lawmakers and trade groups opposed to the rule first attacked it on […]