Consumers are borrowing more on their credit cards — just to pay the monthly bills. And as financially struggling consumers move toward hitting their spending limits and might look for new cards or to increase limits, looming new capital rules for banks may mean that...
Banking regulators say a change in presidential administrations won’t change their approach to financial crime. While Donald Trump may be focused on deregulation, banking industry experts at a conference in New York this week say financial crime will remain a bipartisan focus, Reuters reported Wednesday (Nov. 13)....
Successful collaborations between traditional financial institutions (FIs) and FinTechs rest on one shared goal: offering end-users the best of both worlds. FinTechs bring speed and innovation, enabling things like real-time payments and access to funds, while FIs and credit unions contribute trust and regulatory expertise....
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with a higher interest rate than its existing savings account products. The regulator sent the bank...
August 13, 2024
For banks — and especially for credit unions — the battle with Big Tech for the hearts, minds and wallet share of consumers may seem a more than challenging proposition. After all, Big Tech’s role across all facets of everyday life is pervasive, touching on everything from commerce to search to social media to the […]
August 12, 2024
New input from the Federal Deposit Insurance Corp. (FDIC) is poised to pave the way for more “branchless banking” — through interactive teller machines that can, conceivably, amp up competition...
August 09, 2024
A recent enforcement action by the Federal Reserve taken against Customers Bancorp and its Customers Bank subsidiary has taken note of the risks and challenges inherent in handling digital assets...
July 17, 2024
When the U.S. Supreme Court overturned its own 40-year-old ruling in the LoperBright Enterprises v. Raimondo case on June 28 — in what has come to being popularly tagged SCOTUS...
November 14, 2024
Banking regulators say a change in presidential administrations won’t change their approach to financial crime. While Donald Trump may be focused on deregulation, banking industry experts at a conference in New York this week say financial crime will remain a bipartisan focus, Reuters reported Wednesday (Nov. 13). Preventing criminals from using banks for financial crimes “has been […]
November 01, 2024
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with...
October 31, 2024
House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee – issued a letter Thursday...
October 24, 2024
Washington-based UniBank and its parent company U&I Financial have agreed to measures to be taken under an enforcement action issued Thursday (Oct. 24) by the Federal Reserve Board. The Washington...
