Congress must act to bring real accountability to proxy advisory firms
Two large proxy advisory firms exert extraordinary and pernicious influence on public companies in the U.S. Congress must act to protect American businesses and the investors whose future relies on them.
Thread Bank’s Chris Black sees opening in bank charter boom
Some traditional bankers are unsettled by the wave of crypto and fintech banks getting bank charters. This Nashville bank CEO sees opportunity.
CFPB accused of siding with credit bureaus on complaints
The National Consumer Law Center is claiming the Credit Data Industry Association wants to suppress Consumer Financial Protection Bureau complaint filings.
PayPal fires CEO Alex Chriss as branded checkout falters
HP CEO and current PayPal board chair Enrique Lores will take over March 1, following a deep slump in the payment company’s key metric.
The AI prompt that could wipe out banks’ net interest income
It won’t be long before bank customers can ask an AI agent to optimize their returns on idle cash. When it happens, banks’ net interest income is going to come under direct threat.
Rate cap debate sidesteps big unknowns in credit card pricing
President Donald Trump’s support of legislation that would cap credit card interest rates at 10% has flagged in recent weeks, but experts say that the debate has highlighted significant gaps in regulators’ understanding of the credit card market and how its risks are priced.
UBS seeks to prevent reopening of Nazi-accounts settlement
The Swiss banking giant will come under the spotlight Tuesday at a Senate hearing.where the question of whether a 1999 settlement over Holocaust-looted funds should be reopened is expected to be discussed.
Varo raises $124 million despite widening net losses
The digital bank added two new board members and raised $123.9 million as it continues to manage regulatory costs amid its push for profitability.
Where BVNK, Polygon Labs think stablecoin payments will happen
While stablecoins aren’t widely used for merchant payments, blockchain tech firms such as BVNK and Polygon Labs are seeking opportunities to add speed to slow-moving international transfers.
Illinois bank taps a partner to help launch trust business
In keeping with its policy of outsourcing functions outside its core commercial and retail banking competency, Signature Bank near Chicago teamed with a larger trust company to fill a longstanding gap in its product set.