Tag: banking

October 30, 2023

President Joe Biden is expected to sign an executive order on Monday aimed at regulating the development of artificial intelligence. The landmark order sets “new standards for AI safety and security, protects Americans’ privacy, advances equity and civil rights, stands […]

October 26, 2023

Banks are more effective in helping small-business owners navigate the present market conditions with improved digital tools and more supportive relationship managers, the J.D. Power 2023 U.S. Small Business Banking Satisfaction Study published Thursday finds. Compared to last year, small-business […]

October 25, 2023

The regulator states that banks’ critical systems cannot be out of action for more than four hours within any 12-month period, and that these systems must be supported by a back-up data centre and tested periodically in order to ensure […]

October 25, 2023

Visa, the largest U.S. card network, regularly faces challenges to its business in the regulatory realm. Therefore, it’s a rarity to hear the company’s CEO complimenting a CFPB action. In this case, he was commenting on open banking, a trend […]

October 25, 2023

Gold is treading water in early trade with little fresh news to drive price action. Risk markets are trying to push higher, despite the ongoing crisis in the Middle East, as the US earnings season gets into full flow. Tuesday’s […]

October 24, 2023

Launching initially for European B2C e-commerce firms, the Paris-based fintech will provide a full-service payment platform enabled via API integrations. Its core suite will include cash-in features such as support for multiple payment acceptance capabilities and cash-out features such as […]

October 23, 2023

The solution leverages Mastercard’s open banking technology to enable consumers to share their financial data to pay third parties directly from their bank account using traditional ACH banking rails. This process eliminates the need for customers to manually enter their […]

October 23, 2023

The British Pound is little changed as traders open their books for the week with little macro news around to start a move. The situation in the Middle East remains unpredictable and very volatile, while the proposed Israel move into […]

October 23, 2023

The Consumer Financial Protection Bureau (“CFPB”) announced last week the publication of an Advisory Opinion regarding “Consumer Information Requests to Large Banks and Credit Unions.” The Advisory Opinion applies to “large banks and credit unions”, which means those with $10 […]

October 20, 2023

The phase will involve the identification and selection of providers for the digital euro’s supporting platform and underlying infrastructure, as well as the finalisation of the regulations and rulebook behind the technology. The ECB is expected to begin this endeavour […]

October 19, 2023

The Senate voted Wednesday, by a 53-44 tally, to repeal the Consumer Financial Protection Bureau’s small-business data collection rule. The rule, issued in March, has drawn criticism over the specific pieces of information it seeks to collect from small-business owners […]

October 19, 2023

Based in Greenville, South Carolina, United Community is a regional bank offering both personal and business banking services, including checking and savings accounts and loans, as well as wealth management and investment solutions. It operates primarily in the states of […]

October 18, 2023

Several U.S. regional banks beat analysts third-quarter profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, although rising loan loss provisions and deposit retention costs crimped margins. Shares of several regional banks fell, including […]

October 17, 2023

NMTCs typically come with favourable interest rates and non-traditional financial terms and conditions, helping to attract investment from private entities, banks and corporations. Investors then leverage the NMTCs to finance development projects in underserved and low-income communities, often in the […]

October 17, 2023

Taichung Commercial Bank in Taipei, Taiwan, has called off the deal to buy American Continental Bank in California a little over a year after announcing the nearly $82.1 million deal, the companies said Friday. In a filing with the Taiwan […]

October 17, 2023

JPMorgan Chase is bolstering the unit of the bank that serves startup clients as it looks to fill a void left by several regional lenders that collapsed this spring. The New York City-based bank this year added close to 200 […]

October 16, 2023

The proposals specifically aim to tackle “consumer harms” associated with digital assets, which the government says have been perpetuated by ineffective management practices, inadequate governance structures, poor operational resilience, widespread conflicts of interest and instances of fraudulent activities. To mitigate […]

October 16, 2023

Citi cut another 2,000 jobs in the third quarter, CFO Mark Mason told analysts Friday during a third-quarter earnings call, according to Bloomberg. That means the bank has trimmed roughly 7,000 roles so far this year — and the figure […]

October 16, 2023

Almost all start-ups claim that ESG is one of their core values, but how many of them can accurately say what their regulatory requirements are in relation to ESG? Most of the pronouncements you see seem more like a communications […]

October 13, 2023

Joining Sixth Street as part of the consortium are funds and accounts managed by the New York-headquartered investment firm KKR, investment management firm Bayview Asset Management and credit and payments company CardWorks. Investment advisor Pimco also supported the transaction through […]