Fed seeks input on discount window reforms
The central bank has been under pressure to modernize its last-resort lending operation since the failure of three large regional banks last year.
Trump pledges more regulatory rollbacks, touts potential for crypto
The Republican presidential nominee laid out his economic platform during a speech at the Economic Club for New York.
Survey: SMB lending fraud on the rise
A survey of 135 financial services companies conducted by LexisNexis Risk Solutions, a subsidiary of LexisNexis, found that a vast majority reported increased levels of fraud in 2023.
CFPB faults non-profit hospitals, landlords in report on consumer debt
The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.
FedNow advances toward making real-time payments mainstream
Since launching in summer 2023, the government-backed instant settlement network has attracted hundreds of financial institutions, but there is still room for growth.
Global bank earnings: TD Bank’s AML provisions, BMO’s loan challenge
Between TD Bank’s $3 billion anti-money-laundering hurdle and BMO Financial Group’s increased provisions for loan losses, here are the earnings highlights for non-U.S. banks.
Utah bank uses gen AI to watch for emerging problems at fintech partners
First Electronic Bank is using technology from Spring Labs to analyze its fintech partners’ customer communications and identify problems.
Banks’ Q2 profits rise to $71.5B despite lending headwinds
Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.
Harris pushes 28% capital gains tax rate on millionaires
The increase would “ensure that the wealthy and big corporations pay their fair share” at a level that also “rewards investment in America’s innovators, founders and small businesses,” Harris said.
New Mountain merger to create $3 billion medical payments company
New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans’ payments to doctors and hospitals.