Judge blocks briefs supporting CFPB open banking rule
A district court judge this week has denied allowing four groups — the American Fintech Council, Financial Data and Technology Association, Financial Health Network and Public Citizen — to file legal briefs in support of a rule on financial data rights.
PNC Bank automates direct deposit switch for customers
The bank worked with Atomic to embed the digital payroll deposit manager into its mobile banking app.
BNP Paribas’s gen AI startup incubator a step in AI journey
French bank BNP Paribas is launching a U.K. fintech incubator that will host generative AI startups that have developed applications for banks.
Zip CEO: Here’s what BNPL critics get wrong
Joe Heck, Zip Co.’s U.S. CEO, spoke with American Banker about recent criticisms of the BNPL industry as more consumers turn to it for purchases both big and small.
Pennsylvania’s Norwood Financial to acquire neighboring bank
The parent company of Wayne Bank said it would buy PB Bankshares for $54.9 million in cash and stock.
Bank resolution planning should promote preparedness, not paperwork
The voluminous resolution plans banks are required to submit to regulators are often set aside in the case of actual bank failures. There are far more efficient ways to ensure orderly bank resolutions.
How banks are mixing instant payments and embedded finance
Comerica and U.S. Bank are applying new tools that attempt to take the worry out of real-time transactions made on behalf of third parties.
Louisiana bank looks to bulk up near home with in-state deal
Baton Rouge-based Business First Bancshares would pad its margin as Louisiana’s largest state-chartered bank with an all-stock deal for Progressive Bancorp.
Exclusive: Texas fire department battles Venmo flood scams
The volunteer firefighting crew in Kerr County was the target of impersonation scams on the digital payments platform for donations to relief efforts.
NY Fed report: Return to zero rates a ‘significant’ risk
New research from the Federal Reserve Banks of New York and San Francisco says markets put the odds of zero interest rates lower today than in the recent past, but economic uncertainty raises the potential for drastic cuts in the “medium to long term.”