Regions taps corporate banking head, Detroit CU’s first-ever woman CEO
Regions Bank hires next corporate banking group leader from within; Detroit CU names its first-ever woman CEO; United Community raises its quarterly dividend; and more in this week’s banking news roundup.
Klarna enters arena with big banks as it adds financial services
The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.
Civil rights groups allege judge-shopping in CRA lawsuit
An amicus brief filed in a lawsuit challenging newly finalized implementing regulations for the Community Reinvestment Act argues that the court was chosen because plaintiffs believe the court is more likely to rule in their favor.
This is how much data breaches cost lenders this year
Loandepot and Mr. Cooper said they’ve spent tens of millions of dollars this year following recent, major hacks.
CrowdStrike computer outage highlights need for Payment Choice Act
The ability to make cash transactions is vital to some Americans, and when technology fails us, it can be a lifeline for all Americans. We need to preserve it.
Warren Buffett inches further from banks
Berkshire Hathaway trimmed positions in Capital One and Bank of America in the last several months, public filings show.
CFPB and New York challenge Acima, seek to redefine ‘credit’ in lease-to-own
Acima offers lease-to-own plans on consumer items, but the Consumer Financial Protection Bureau and New York officials are calling those plans credit. The battles, playing out in separate courts, could trigger more expansive protections for customers.
What National Public Data’s 2.7-billion-record breach means for banks
The personal data collection company, which offers its database for background check and private investigation services, acknowledged the giant breach.
Fade to black: In-store branches’ steep decline continues unabated
Currently sitting at 2,500, the in-store branch count appears fated to continue dropping, as customers opt for digital channels and banks shy away from models that emphasize overdraft
Where ATMs are finding relevance as cash fades
NCR Atleos and Diebold Nixdorf are leveraging the rise of branchless financial institutions and putting pressure on traditional banks to maintain access to paper.