ABA unveils new tool to fight Treasury check fraud
The ABA’s new service adds payee name validation to help banks fight growing fraud risks.
Banks need to be more proactive in promoting youth financial literacy
Many young people begin their journey into adulthood without a solid grounding in the basics of personal finance. Banks and other financial institutions are in a unique position to provide that knowledge.
As regulation fades, a nonprofit pushes voluntary standards
New self-regulatory guidelines for credit cards and checking accounts are arriving at a time of deregulation in Washington, D.C.
Warren slams push to revise supplementary leverage ratio
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., sent a letter to banking regulators urging them to preserve the enhanced Supplemental Leverage Ratio, warning that a rollback would only enrich bank shareholders.
Cathie Wood’s Ark trims Circle stake after netting windfall
Ark Investment Management has offloaded about 1.5 million shares of Circle over four recent trading sessions, worth roughly $333 million, according to Bloomberg. Wood’s firm as a whole remains the eighth-largest holder of Circle.
Insurer’s pivot clears way for Ohio bank’s expansion
Cincinnati-based First Financial scooped up Westfield Bank near Cleveland after Westfield’s parent company decided to exit the bank space and focus on its core insurance business.
Wealthfront tests investors’ appetite with confidential IPO
The wealth management and digital banking fintech is following in the footsteps of other fintech IPOs as the market rallies around Chime and Circle.
What banks are doing about workers returning to the office
Since the end of COVID, each bank has set its own rules for how often employees need to show up at the office. Here’s how a dozen lenders are handling the shift.
Blueacorn founder convicted of PPP fraud conspiracy
A number of fintechs emerged amid the COVID-19 pandemic as a flurry of Paycheck Protection Program loan applications inundated banks. Now, the government is alleging many of them facilitated or committed fraud.
Republicans play nice with Powell despite Trump’s criticism
Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.