How community bank ‘mavericks’ compete in AI space
Some smaller banks are punching above their weight when it comes to being AI-savvy, industry observers say.
Restructuring means near-term pain, long-term gain for First Hawaiian
The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that have made similar moves.
Virus-protection firm buys MoneyLion in $1 billion deal
The merger pairs the fintech’s platform with Gen Digital’s identity-protection services, such as Norton, LifeLock and ReputationDefender.
Open banking is here, but consumers need to know why it matters
The industry should rally behind the Financial Data Exchange, which has stepped up to help develop standards and governance protocols for open banking in the United States.
The CFPB has a new tool to examine customer service at banks
A new question field on the Consumer Financial Protection Bureau’s consumer complaint form is tied to an advisory opinion on customer service related to customers’ requests for information, industry experts say.
Judge strikes blow to CFPB’s $8 credit card late fee rule
U.S. District Judge Mark T. Pittman wrote that trade groups that sued the Consumer Financial Protection Bureau earlier this year “are likely to succeed on the merits” of the case.
Hanmi seeks higher profile in Seoul to drive U.S. growth
Banking South Korean companies has become a major pillar of the Los Angeles-based Hanmi’s balance sheet, with a portfolio of loans approaching $1 billion.
Google sues CFPB, challenges oversight of retired product
The company said the P2P payment service the bureau seeks to supervise presents no risk to consumers because it is no longer offered in the U.S.
Consumer group urges FDIC to publicly release failed-bank probes
Americans for Financial Reform wants investigations into the directors and executives of Silicon Valley Bank, Signature Bank and First Republic Bank released before the Jan. 20 inauguration.
Union organizers inside Wells Fargo eye first victory at a non-branch unit
The unionization push by members of the bank’s conduct management intake team has been hotly contested. If approved, it would represent a landmark in the effort to organize workers at the $1.9 trillion-asset bank.