Citi scraps pro-gun-safety policy amid conservative pressure
The megabank is also updating certain policies to bar discrimination based on political affiliation. “We appreciate the concerns that are being raised regarding ‘fair access’ to banking services,” a Citigroup executive wrote in an internal memo.
Klarna, PayPal push in-store spending with new cards
The Swedish buy now/pay later provider and the San Jose, California-based payments system separately launched payment cards in an effort to bring their digital finance offerings to brick-and-mortar stores and compete with established credit card issuers.
Fifth Third cyber exec: Sharing threat intel comes with risk
Brian Minick, who is in charge of cybersecurity for the bank, shared important cyber insights at an American Banker conference this week.
Trump OCC eyes lighter capital rules to boost lending
Acting Comptroller of the Currency Rodney Hood signals rollback of key safeguards like the supplemental leverage ratio, aligning with administration’s push to ease bank capital demands and spur credit.
US banks need to be taking trade war risks much more seriously
The probability of a trade war-induced recession is unclear and fluctuates almost daily. However, the possibility is real enough that banks have a responsibility to prepare for a serious economic downturn on par with the 2008 financial crisis.
Trump team signals it wants to keep control of Fannie, Freddie to boost budget
This might deeply disappoint Wall Street investors who’ve been counting on a windfall if Fannie and Freddie are set free.
Prizeout advances cash-back debit rewards for credit unions
The payments fintech is partnering with credit unions such as Michigan State Federal Credit Union to offer cash-back rewards on debit transactions using account-to-account payment schemes.
DOJ seeks early end to NJ bank’s redlining consent order
The Department of Justice is seeking to terminate a Biden-era lending discrimination settlement with Lakeland Bank. Last month, the DOJ took similar action in a case involving Mississippi-based Trustmark National Bank.
Why smaller bank CEOs got bigger pay hikes in 2024
The CEOs of smaller regional banks received fatter bonuses last year than their big-bank counterparts, possibly thanks to low performance expectations at the smaller banks after the 2023 banking crisis.
KeyBank expands Qolo partnership with minority investment
The investment follows the success of KeyVAM, a virtual account management platform developed with the fintech for treasury clients and launched last year.