The many ways contactless payments are transforming mass transit
Deployments picked up speed during the pandemic, and have continued into this year as commuter networks try to win back riders.
As FedNow rolls out, the U.S. has much to learn from India’s UPI
India’s Unified Payments Interface has been an extraordinary success. The Fed should take careful note of how the system came to dominate the Indian economy.
Banks, usually hungry for growth, are now looking to shrink
Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.
FDIC orders Unbanked, Inc. to halt false deposit insurance claims
The Federal Deposit Insurance Corp. issued a cease-and-desist order to Unbanked, Inc. — a cryptocurrency-focused nonbank — for making false claims about FDIC deposit insurance coverage on its crypto-related products Friday.
First Foundation’s next CFO, TIFIN adds new executives and more
First Foundation lines up James Britton as its next CFO, AI wealth-platform TIFIN announces additions to its executive leadership team and more in the weekly banking news roundup.
FDIC should fine banks revising uninsured deposits, lawmakers say
Sen. Elizabeth Warren, D-Mass., and Rep. Katie Porter, D-Calif., said that the Federal Deposit Insurance Corp. could do more to penalize banks that have downwardly revised their uninsured deposits as the agency looks to collect its special assessment.
San Francisco Home Loan bank’s president and CEO to retire in 2024
The board of the Home Loan Bank of San Francisco chose not to renew Teresa Bryce Bazemore’s contract that ends in 2024, and has initiated a search for a new CEO.
First Horizon gives its CEO a pay hike, seeks to retain him until 2028
The five-year employment agreement with CEO Bryan Jordan follows a failed acquisition effort by TD Bank. The deal suggests that Jordan is seen as critical as the Memphis, Tennessee-based bank charts an independent course in the coming years.
‘This is the sleeping giant’: Banks zero in on fourth-party risk
The rapid pace of innovation, reliance on a web of vendors, and regulatory scrutiny means fourth-party risk is a more pressing consideration than in the past.
Press Release: FDIC Demands Unbanked, Inc. Cease Making False or Misleading Representations about Deposit Insurance
PRESS RELEASE | AUGUST 4, 2023 FDIC Demands Unbanked, Inc. Cease Making False or Misleading Representations about Deposit Insurance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today demanded Unbanked, Inc. (Unbanked) of Alpharetta, Georgia, as well as certain of the company’s officers, cease and desist from making false and misleading statements about FDIC deposit insurance […]