The open banking rule helps consumers. Why are banks against it?
An industry lawsuit seeks to undermine a rule put forward by the Consumer Financial Protection Bureau that would make it much easier for consumers to manage their own financial health.
Consumers’ debt struggles are easing as holiday spending ramps up
The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. “For 2025, we’re seeing a lot of stability in delinquencies,” an industry researcher said.
Scotiabank gets Fed approval to be KeyCorp’s largest shareholder
The Canadian bank received approval from the Federal Reserve to increase its ownership stake in KeyCorp to up to 14.9%.
Ex-OCC head: Expect ‘radically different’ regulators
Brian Brooks, former acting Comptroller of the Currency in the first Trump administration and advisor to the President-elect’s transition team, said new agency heads will open up commercial real estate lending, approach credit risk management differently and privatize Fannie Mae and Freddie Mac.
French Hill named chairman of House Financial Services Committee
The Arkansas Republican pledges to reduce excessive regulation and align financial policies with GOP goals.
UnitedHealthcare’s AI missteps a cautionary tale for banks
Numerous reports and lawsuits have criticized the health insurer for using algorithms to ramp up denials of coverage.
How ‘Uberization’ drives embedded payments
Execs from U.S. Bancorp and Keybank discuss how emerging technology makes it easier to replicate the near invisible checkout that car-sharing riders enjoy.
FDIC highlights stability amid CRE issues in banking report
The Federal Deposit Insurance Corp.’s Q3 Quarterly Banking Profile report highlighted net bank income falling 8.6%, but also showed slow delinquency growth in commercial real estate and core income metrics improving across the banking sector.
A small Upstate New York bank sees big growth potential in the Bronx
Orange Bank and Trust in Middletown says it will operate as a boutique commercial bank, focusing on small business, nonprofits and the borough’s sizzling housing construction market.
Small banks risk losing ground in business credit cards
Banks that don’t focus on credit cards for this market may find larger banks and fintechs are eating their lunch.