TD Bank is reportedly settling a case involving illegal “spoof” orders by a former trader. The Canadian bank will pay more than $20 million as part of a deal with American prosecutors, Bloomberg News reported Monday (Sept. 30), citing court filings. That deal involves TD...
New capital requirements could help Great Britain’s smaller lenders compete in the country’s mortgage market. That’s according to a report published by Reuters on Thursday (Sept. 12), the same day the Bank of England said it would scale back its capital rules. The goal here,...
Artificial intelligence (AI) is giving financial institutions new tools to meet their goals. Wells Fargo’s AI-driven estate management is boosting customer satisfaction, while Treasury Prime has partnered with Kobalt Labs to streamline bank compliance using AI. Wells Fargo Turns to AI-Driven Estate Management Wells Fargo...
JPMorgan Chase is reportedly facing a lawsuit that alleges that the bank paid “unreasonably” low interest rates on accounts used in its cash sweep program. Illinois resident Dan Bodea alleges in the suit that the bank used the program to shortchange customers while pretending to...
August 12, 2024
Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers Bank, one of the only crypto-friendly banks in the U.S., was served with a 13-page regulatory enforcement action by the Federal Reserve related to its digital asset and dollar token […]
September 13, 2021
Digital transactions are quickly becoming the norm, with trillions of dollars crisscrossing the globe via the internet. Securing this fast-growing market is the EU’s Revised Payment Services Directive (PSD2) objective,...
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 (Oct. 31) to regulators at the Federal Reserve Board, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corp. (FDIC) responding to […]
September 30, 2024
TD Bank is reportedly settling a case involving illegal “spoof” orders by a former trader. The Canadian bank will pay more than $20 million as part of a deal with...
September 12, 2024
New capital requirements could help Great Britain’s smaller lenders compete in the country’s mortgage market. That’s according to a report published by Reuters on Thursday (Sept. 12), the same day...
August 26, 2024
JPMorgan Chase is reportedly facing a lawsuit that alleges that the bank paid “unreasonably” low interest rates on accounts used in its cash sweep program. Illinois resident Dan Bodea alleges...
