banking

Banking is an industry that handles cash, credit, and other financial transactions. Banks provide a safe place to store extra cash and credit. One key step towards financial independence is having a solid banking account.

Expense Management Firm Mesh Payments Selects SoFi as Sponsor Bank
Expense Management Firm Mesh Payments Selects SoFi as Sponsor Bank
December 12, 2024  |  Partnerships

Mesh Payments has selected SoFi Bank as its sponsor bank and continues to partner with SoFi Technologies-owned Galileo Financial Technologies as its longtime payments processor. This partnership...

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CFPB’s Overdraft Rule May Move Banks to Cut Services and a ‘Credit Lifeline’ for Consumers
CFPB’s Overdraft Rule May Move Banks to Cut Services and a ‘Credit Lifeline’ for Consumers
December 12, 2024  |  Consumer Finance

The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB)...

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Visa Direct to Enable Delivery of Money in US Within 1 Minute Starting in April
Visa Direct to Enable Delivery of Money in US Within 1 Minute Starting in April
December 12, 2024  |  Faster Payments

Visa will begin enabling faster delivery of money with Visa Direct, making funds transferred to U.S. bank accounts available within one minute. This capability will...

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Basel Committee Debuts Credit Risk Guidelines for Banks
Basel Committee Debuts Credit Risk Guidelines for Banks
December 11, 2024  |  Banking

A global banking watchdog introduced new guidelines covering counterparty credit risk (CCR) management. The regulations issued by the Basel Committee on Banking Supervision replace the...

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Santander Appoints PayPal Veteran to Head Digital Consumer Bank
Santander Appoints PayPal Veteran to Head Digital Consumer Bank
December 11, 2024  |  Personnel

Banco Santander has appointed PayPal veteran Nitin Prabhu as its global head of Digital Consumer Bank (DCB). In this role as head of one of the bank’s five...

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Wells Fargo CEO More Confident in Bank’s Compliance Controls
Wells Fargo CEO More Confident in Bank’s Compliance Controls
December 11, 2024  |  Bank Regulation

Wells Fargo’s CEO reportedly has more confidence in his bank’s efforts to remedy its compliance issues. Charlie Scharf’s comments, as reported Wednesday (Dec. 11) by...

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Financial Landscape Unprepared for Increasing FinTech Influence, Oversight Group Says
Financial Landscape Unprepared for Increasing FinTech Influence, Oversight Group Says
December 11, 2024  |  Regulation

Innovation within the financial services and payments space tends to center around two poles: FinTechs, and cryptocurrency. In its newly released 2024 annual report, the...

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Google Cloud and Swift Partner on AI Model Training
Google Cloud and Swift Partner on AI Model Training
December 10, 2024  |  artificial intelligence

Google Cloud and Swift are working together to develop a secure, privacy-preserving solution for financial institutions that use federated learning techniques. Federated learning enables collaborative artificial...

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Newly Flush With Capital, Challenger Banks Face New Challenges
Newly Flush With Capital, Challenger Banks Face New Challenges
December 10, 2024  |  Security & Fraud

A wave of funding rounds over the past several months is giving challenger banks fresh financial firepower to position themselves as alternatives to traditional banks,...

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