JPMorgan, Ingenico test appetite for biometrics at checkout
The rollout of new technologies in point-of-sale retail payments in the U.S. has historically been slow, and consumer adoption of those new payment flows can be even slower. Can consumers’ propensity for self checkout help push adoption?
Wells Fargo sheds fourth consent order in a month
The San Francisco-based bank announced that another consent order with the Office of the Comptroller of the Currency has been terminated. The six-year-old order was related to the bank’s risk compliance management and certain loan practices.
Automated mortgage insurance cancellation is a dangerous plan
A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing.
20 banks with the largest quarterly deposit declines
The biggest decline was a 9.9% drop in deposits quarter-on-quarter as of Dec. 31.
What direction will McKernan take leading the CFPB?
The Trump administration’s nominee to lead the Consumer Financial Protection Bureau, Jonathan McKernan, is seen as an institutionalist with a deep knowledge of policy. But whether he keeps the bureau shuttered or rebuilds it is uncertain.
Trump officials fire dozens of Chopra’s hires at CFPB
On Wednesday night, the Trump administration fired dozens of employees at the Consumer Financial Protection Bureau, according to an email obtained by American Banker. Most of the workers targeted had been hired by former CFPB Director Rohit Chopra.
Global Payments pushes patience for its restructuring
CEO Cameron Bready told analysts that the company’s changes in management structure, product reorganization and strategic retrenchments will show up in earnings later in 2025.
Industry group calls quantum threat to payments an ‘urgent’ matter
The payment card industry must upgrade encryption before quantum computers render current security methods obsolete, FS-ISAC warned.
Fed puts stamp of approval on Texas holding company’s ownership change
An order permitting CSBH LLC in Powhattan, Virginia, to acquire a controlling stake in Industry Bancshares promises to give the Texas company a fresh start in one of the country’s most attractive banking markets.
More Americans fell behind on their car loans in Q4: NY Fed
Serious delinquencies on auto loans rose to almost 3% in the fourth quarter of 2024, according to the New York Fed. Researchers blame the affordability problem on soaring car prices.