Bank customers report tech issues amid CrowdStrike, Microsoft problems
Customer reports of technical issues with many U.S. banks have spiked as a buggy software update from CrowdStrike disrupts multiple sectors.
Consumer-permissioned data could be a game-changer for borrowers
Lenders and financial institutions should allow consumers to report nontraditional financial activities in an effort to adopt and validate newer, more inclusive credit scoring models.
Bankers go home after outages sweep globe
A global IT outage left some unable to log on to computer systems and prevented others from making trades.
American Express boosts 2024 outlook as card spending stays strong
The financial institution’s high-end customer base has held up amid higher inflation and interest rates.
Huntington boosts earnings on growth in deposits and loans
Net interest income at the Columbus, Ohio-based bank rose by 2% from the first-quarter result, and CEO Steve Steinour said he expects growth to continue throughout the second half of the year.
What banks should take away from this week’s whirlwind political drama
The week of the Republican National Convention brought with it some of the biggest political moments the country has seen for decades, some of which center on the rise of economic populism in the Republican party. Here’s some of the biggest moments that matter for bankers.
Earned wage access providers rebuke CFPB, plan to sue over proposal
The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau’s plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.
Regulators finalize guidelines for challenging property appraisals
The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.
Texas Capital misses on earnings, executives cite weak loan demand
The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.
Discover ties up loose ends ahead of Capital One acquisition
The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.