Oldest credit union in U.S. keeps battling big banks, scamsters
St. Mary’s Bank in New Hampshire tries to serve members as it has for 116 years, while dealing with today’s cybersecurity and fraud concerns.
Kentucky bank ATM dispenses fake $100 bills
Independence Bank of Kentucky said 14 customers had reported receiving the bills, which included text such as “for motion picture purposes.”
Upstart is emerging from its nuclear winter, CEO says
The company, a pioneer in AI-based lending, says improvements to its models and long-term commitments from the banks it works with will bring about positive returns in the third and fourth quarters.
How credit unions are staying relevant in the BNPL space
As member demand for installment payments increases, resource-strapped institutions are looking for outside help. Fintechs offer the service.
Citigroup to sell trust services unit to JTC for $80 million
Citigroup Inc. is selling its global fiduciary and trust administration services business to JTC as the U.S. bank’s wealth arm focuses more on the likes of wealth planning and investment management.
Sterling in Michigan to sell bank for $261 million
EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as planned, it would culminate a long saga for Sterling.
Banks must get serious about measuring and mitigating AI-related risk
Artificial intelligence is going to be integrated into the financial system. So, banks need to be clear-eyed about its potential dangers, and proactive about avoiding them.
Will regulators hit the gas or brakes on remaining post-Basel reforms?
Federal Reserve Vice Chair for Supervision Michael Barr conceded major points to the industry on last year’s capital reform proposal. But how regulators will approach other reforms in light of that experience is uncertain.
Bank investors’ worry after Wells Fargo AML action: Who’s next?
A new OCC action over the megabank’s anti-money-laundering guardrails, which follows news of seemingly more severe lapses at TD Bank. is raising concerns that a broader crackdown is at hand.
Federal banking agencies extend comment period on bank-fintech risks
Banks now have until Oct. 30 to weigh in on potential risks of third-party fintech partnerships for banking products and services.