Conservative court’s ruling is an omen about DEI under Trump
Banks will feel the fallout from a court’s decision to strike down a Nasdaq rule that would have mandated more disclosure about the racial and gender composition of corporate boards.
Upbound acquires Brigit, expanding financial solutions platform
Upbound currently focuses on lease-to-own products. Brigit will help it expand its offerings, but the fintech faced an FTC complaint last year.
Trump wants to streamline bank regulation. Here’s how he should do it.
We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system that has grown increasingly unwieldy over generations.
Dime in NY takes $43 million hit to unload underperforming securities
The bank said it redeployed proceeds from the sale into high-yielding investments. It also said it would end an employee pension plan to curb expenses.
Carver directors win re-election after controversial vote
A close result was complicated by an hour-long adjournment of the New York-based company’s annual meeting that angered dissident investors and left them mulling legal action.
Elder abuse, AI deepfakes and TikToks: 2024’s fraud trends
From mail theft to video games, a variety of trends shaped scams and fraud in 2024 — and made the schemes more expensive for everyone.
The open banking rule helps consumers. Why are banks against it?
An industry lawsuit seeks to undermine a rule put forward by the Consumer Financial Protection Bureau that would make it much easier for consumers to manage their own financial health.
Consumers’ debt struggles are easing as holiday spending ramps up
The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. “For 2025, we’re seeing a lot of stability in delinquencies,” an industry researcher said.
Scotiabank gets Fed approval to be KeyCorp’s largest shareholder
The Canadian bank received approval from the Federal Reserve to increase its ownership stake in KeyCorp to up to 14.9%.
Ex-OCC head: Expect ‘radically different’ regulators
Brian Brooks, former acting Comptroller of the Currency in the first Trump administration and advisor to the President-elect’s transition team, said new agency heads will open up commercial real estate lending, approach credit risk management differently and privatize Fannie Mae and Freddie Mac.