How sports is paving a path for ‘invisible payments’
At the Los Angeles Clippers’ Intuit Dome, technology developers hope to forge transaction habits that can be replicated elsewhere.
CFPB looks to rescind nonbank registry, ignore compliance
The Consumer Financial Protection Bureau said it will not enforce or supervise nonbank financial firms that miss upcoming compliance deadlines for the nonbank registry of repeat offenders.
Wells Fargo benefits from improved credit quality
Lower credit costs and better expense control helped the San Francisco-based titan offset the impact of lighter-than-expected revenue.
Two SoCal credit unions plan to merge into $13B institution
The combination of San Diego County Credit Union and California Coast Credit Union would create the 16th largest credit union in the United States.
IBM’s latest mainframe comes with AI accelerators
The new z17 mainframe, unveiled in a launch event this week, also comes with quantum-resistant encryption.
Bank CEOs ponder impact of Trump’s tariffs
The chief executives at four of the nation’s largest banks weighed in on what evolving trade policies mean for their businesses and the U.S. economy. “I think you have to be a little bit pessimistic here,” said Bank of New York Mellon CEO Robin Vince.
Changes to Social Security death list will affect banks
A government database banks rely on to find out about deaths suddenly grew dramatically last month. Now, live immigrants are also getting added to it.
CFPB drops lawsuit against Comerica Bank, without prejudice
The Consumer Financial Protection Bureau had accused the Dallas bank of “deliberately disconnecting 24 million customer service calls” among other “unfair” acts. But the motion to dismiss allows the CFPB to refile the case again.
Jamie Dimon: Looser capital rules are good for the market
The JPMorgan Chase CEO said Friday that recent turmoil in the bond market highlights the need for more capital and liquidity flexibility.
Former TD Bank employee pleads guilty to check-fraud scheme
A former TD Bank employee pleaded guilty to a felony in connection with a check-fraud scheme; EWA provider DailyPay filed a lawsuit against New York Attorney General Letitia James; First Citizens BancShares ended the shared-loss agreement it made with the FDIC after acquiring Silicon Valley Bank; and more in this week’s banking news roundup.