Kamala Harris has an opportunity to make crypto better for consumers
The Democratic nominee should seize the moment and reset her party’s relationship with the crypto industry, focusing on safety, equity and access to financial services.
Banks hint at legal challenge to new interagency security tracking rule
The American Bankers Association says a proposal to replace its own financial security identifier with one owned by Bloomberg exceeds the agencies’ statutory authority and could disrupt financial markets.
These U.S. banks closed the most branches in the second quarter of 2024
The top five banks in this list closed a net total of 148 branches in this time period — and 492 branches in the past 12 months.
Former Discover executive says she was ‘scapegoat’ for legal troubles
Diane Offereins retired from a top job last year amid scrutiny of the card network’s charges to merchants. Now she’s suing Discover over its decision to cancel unvested stock worth $7 million.
Visa, Mastercard and Google go big in India; U.K. interchange suit moves forward
he card brands and tech giants are expanding their payments reach in one of the world’s largest markets, while facing a multi-billion-dollar class action complaint by British businesses over fees. That and more in American Banker’s weekly global roundup.
TD CEO says the bank’s size helps explain risk management failures
The Canadian bank expects to spend more than $3 billion on U.S. regulatory penalties in connection with its anti-money-laundering problems. “It’s easy in a bank of our size to sometimes not look at accountabilities as clearly as we should,” CEO Bharat Masrani said.
Earnings recap: Citigroup’s OCC plan, First Guaranty layoffs
From Citigroup’s positive earnings butting up against fines from the Office of the Comptroller of the Currency, to First Guaranty’s 15% layoff, here are earnings highlights to be mindful of.
Press Release: FDIC Board Selects Boston Consulting Group to Advise on Workplace Culture Initiatives
PRESS RELEASE | SEPTEMBER 4, 2024 FDIC Board Selects Boston Consulting Group to Advise on Workplace Culture Initiatives WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors (the Board) today selected Boston Consulting Group (BCG) Federal Corporation to advise and assist the agency as it implements its Action Plan for a Safe, Fair, […]
Credit unions rarely engage in BaaS. North Bay is an exception.
Membership requirements, expense and the c non-profit ethos largely keep credit unions from participating in the banking-as-a-service space. But a few, such as North Bay Credit Union in California, have carved out a niche.
Philadelphia Fed president Harker to step down next year
Patrick Harker, the longest serving regional reserve bank president, will leave office in June 2025. Directors at the Fed bank have started the search for his replacement.