Banking on a single cloud platform? It’s time to rethink the risk
As banking customers’ expectations for digital experiences rise and fintech competition grows, the cloud has become essential to staying relevant.
April PCE inflation comes in at 2.1%, nearing Fed goal
The Federal Reserve’s preferred measure of inflation moved closer to the 2% target last month, but the impact of tariffs remains to be seen.
How banks are getting their data ready for open banking
As banks standardize their data in anticipation of the rise of open banking, they’re turning to common formatting standards, including from the FDX.
Here’s what banks must do to secure open banking data
Although the Trump administration is abandoning the CFPB’s rule 1033, there are still a number of security standards to follow.
How Bank of America is growing its global payments business
A focus on client relationships, rather than products, and investments in AI are helping the company in an increasingly competitive market.
Wells exits another consent order, leaving just the big one
The megabank, which has spent years trying to improve its regulatory compliance, now has just one consent order remaining. And observers expect that Wells’ historic asset cap will be lifted soon.
Amalgamated Bank execs discriminated, misused funds: Lawsuit
Three current and former employees of the New York City-based bank allege that executives made racist comments, misused corporate money and retaliated against protected complaints.
Obscure tax item in Trump’s big bill stokes Wall Street angst
The item calls for increasing tax rates for individuals and companies from countries whose tax policies the U.S. deems “discriminatory.” This includes raising tax rates on passive income, such as interest and dividends, earned by investors who are potentially sitting on trillions in American assets.
NJ bank likely to report loss after two office loans sour
Princeton Bancorp, which has $2.3 billion of assets, reported a sizable impairment charge tied to participation loans on a pair of office properties.
Fraud charges hit replacement cards, frustrating consumers
When a card gets canceled or expires, Visa, Mastercard and other networks send replacement information to merchants. This can be a problem for consumers.