For banks, the ever-expanding push into global markets also has included a broadening of lending activities — to the tune of trillions of dollars. In many cases, the party on the other side of the transaction tends to be a non-bank firm. New guidance from...
The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB) move may have a series of negative ripple effects for those same consumers, as banks consider offsetting the impact of...
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 U.S. Financial Stability Oversight Council (FSOC) took care to illustrate the risks, as well as the potential benefits, of both...
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 intelligence (AI) model training without compromising privacy and confidentiality, Google Cloud said in a Tuesday (Dec. 10) blog post. Swift plans...
December 12, 2024
The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB) move may have a series of negative ripple effects for those same consumers, as banks consider offsetting the impact of new regulations, which among other things, caps the fees at […]
December 11, 2024
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 U.S. Financial Stability Oversight Council...
December 09, 2024
Few bottlenecks across the payments landscape have been more intractable than that of cross-border payments. But with the news Thursday (Dec. 5) that the U.S. licensed FV Bank is now supporting...
December 05, 2024
Credit card fraud is a rising concern for American consumers, with nearly 1 in 3 reporting fraudulent charges in the past year. As incidents of fraud increase, so does consumer...
December 19, 2024
The Federal Reserve Board has announced an enforcement action against Franklin, Tennessee-based Lineage Financial Network, the bank holding company of Lineage Bank. The Fed said in a Thursday (Dec. 19) press release that the Federal Deposit Insurance Corporation (FDIC) separately issued an enforcement action with Lineage Bank in January and that the Fed’s enforcement action is independent of the […]
December 10, 2024
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 intelligence (AI) model training without...
December 06, 2024
The Consumer Financial Protection Bureau (CFPB) sued Comerica Bank Friday (Dec. 6), alleging that the bank committed violations that include hanging up on customer service calls and charging illegal ATM fees. The...
December 05, 2024
TD Bank Group said Thursday (Dec. 5) that for the coming fiscal year, “it will be challenging for the Bank to generate earnings growth,” as it continues to work on...
