Harris’ food price gouging ban opens a new front in swipe-fee fight
Vice President Kamala Harris could stoke a conflict between bankers and merchants over interchange fees as she targets high food prices as part of her presidential campaign.
Top market matters: Fed’s impending rate cut, shrinking credit card losses
Between Warren Buffett offloading roughly $4 billion in bank stocks and credit card losses shrinking across the banking industry, here are the top market moves to be wary of.
U.S. Bank acquires health care payments platform
The superregional bank is buying Salucro Healthcare Solutions for an undisclosed amount. Salucro provides online billing and payments services to healthcare providers.
In AI-based lending, is there an accuracy vs. fairness tradeoff?
If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry.
Survey finds bankers newly upbeat on loan growth
Increased demand from borrowers may hinge on Federal Reserve Chair Jerome Powell and his colleagues cutting interest rates this fall.
FDIC taps attorney Carrie Cohen to oversee cultural shift
The FDIC Wednesday appointed Cohen, a partner with law firm Morrison Foerster and seasoned expert in workplace monitorships and diversity initiatives, as external overseer to audit and report on the agency’s cultural reforms following a competitive selection process.
Are digital currencies experiencing an ‘electric vehicles’ moment?
As with EVs, digital money was a niche product for years before gaining widespread acceptance. Now, digital blockchain-based monies might be on the verge of a major breakthrough.
CFPB orders Fay Servicing to pay multimillion-dollar penalty
Fay disputes claims it violated servicing laws and a previous order related to dual tracking allegations but agreed to settle without admission of wrongdoing.
TD Bank’s AML failures, tepid U.S. business hamper profits
The Canadian bank reported that regulatory fines related to compliance woes wiped out a chunk of its earnings in the third quarter.
Banks ponder, ‘What’s in a name?’
In a sea of generically named “First Banks of X” and “Community Banks of Y,” financial institutions must decide if the painstaking rebranding process is worth the investment and risk to stand out.