Press Release: FDIC-Insured Institutions Reported Net Income of $65.4 Billion in the Third Quarter
PRESS RELEASE | DECEMBER 12, 2024 FDIC-Insured Institutions Reported Net Income of $65.4 Billion in the Third Quarter Net Income Decreased From the Prior Quarter, Driven By One-Time Items Community Bank Net Income Increased Quarter Over Quarter Net Interest Income Increased as the Net Interest Margin Rose Across All Size Groups in the Quarterly Banking […]
Walmart’s fintech hits $2.5 billion value; an omen for banks
Walmart is pouring more firepower into its fledgling financial venture, signaling its ambition to wade deeper into financial services.
DOJ’s antitrust lawsuit against Visa is misguided
The Department of Justice is trying to fix a system that isn’t broken. The better move would be to allow the ruthlessly competitive payments marketplace to generate new and better products.
TD faced the U.S. hammer. Now its Canadian compliance gets a revamp.
After the Toronto-based bank faced record penalties in the U.S., it made new disclosures about its anti-money-laundering compliance obligations in Canada, where critics say regulators have been too lax.
CFPB caps overdraft fees at $5 without APR disclosure
In a final rule to be released Thursday, the Consumer Financial Protection Bureau would allow banks to either charge $5 for overdraft fees or another amount commensurate with costs. Banks could also charge more if they disclose the fees’ annual percentage rate of interest to customers.
A third ex-TD Bank employee is charged in money-laundering scheme
Leonardo Ayala, who was a retail banker at a TD branch in Florida, faces criminal charges in connection with money-laundering activities.
Real-time payments in the fast lane: Tesla pushes adoption in auto finance
About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren’t more using it?
Apple Pay’s EU antitrust compromise spurs rivals
Norwegian fintech Vipps’ consumers can use iPhones to make digital payments following Apple’s settlement with regulators. Klarna gets hit with a money-laundering fine and more in our weekly global payments roundup.
Patriot National in Connecticut mulls sale
The bank has hired an advisory firm to assess a potential sale, a capital raise or a strategic partnership after a prior merger fell through.
FDIC Inspector General finds gaps in resolution readiness
A report by the Federal Deposit Insurance Corp.’s Office of Inspector General revealed deficiencies in the FDIC’s preparedness for large bank failures.