Are banks welcoming open finance with open arms?
New research from American Banker finds that more than 30% of all institutions see open finance as a high priority for growth, but challenges hold many back.
U.S. Bank among Minnesota companies urging ‘de-escalation’
CEO Gunjan Kedia joined nearly 70 chief executives of Minnesota-based companies in calling for “an immediate de-escalation of tensions” in Minneapolis, where a second resident was fatally shot by federal immigration agents on Saturday.
What FIS has planned after the Global Payment deals
The bank technology seller closed the sale of its payment processor to Global Payments, which sold its card issuing unit to FIS. Helping banks get a handle on artificial intelligence is a big part of FIS’s plan to reach banks.
An overhaul of US anti-money-laundering rules is long overdue
As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against financial crime.
Trump’s JPM lawsuit unlikely to succeed, experts say
President Donald Trump’s recently filed lawsuit against megabank JPMorganChase and its CEO Jamie Dimon is not expected to succeed in court, legal experts say.
Trump pulls back from 401(k) use for down payments
Trump, during his return from Davos, signaled reluctance to allow 401(k) withdrawals for home down payments, but other tax-advantaged options remain on table.
OCC won’t delay World Liberty Financial charter review
Comptroller of the Currency Jonathan Gould said in a letter to Sen. Elizabeth Warren, D-Mass., that the OCC “intends to act consistent with this duty rather than your demand.”
UK cyber tests show banks’ struggle with cybersecurity basics
The U.K. conducted simulated cybersecurity attacks on its banks’ live systems and found they lack basic patching and identity controls.
Eastern swears off M&A amid activist investor’s pressure
The Boston bank, which has been targeted by an activist investor over its M&A strategy, isn’t pursuing deals, CEO Denis Sheahan said Friday. Instead, the company is focused on organic growth and share buybacks.
First Citizens eyes loan sales to repay FDIC after SVB deal
The Raleigh, North Carolina-based bank recently made its first payment on a $35 billion note held by the Federal Deposit Insurance Corp. The note was arranged as part of First Citizens’ purchase of the failed Silicon Valley Bank.