UnitedHealthcare’s AI missteps a cautionary tale for banks
Numerous reports and lawsuits have criticized the health insurer for using algorithms to ramp up denials of coverage.
How ‘Uberization’ drives embedded payments
Execs from U.S. Bancorp and Keybank discuss how emerging technology makes it easier to replicate the near invisible checkout that car-sharing riders enjoy.
FDIC highlights stability amid CRE issues in banking report
The Federal Deposit Insurance Corp.’s Q3 Quarterly Banking Profile report highlighted net bank income falling 8.6%, but also showed slow delinquency growth in commercial real estate and core income metrics improving across the banking sector.
A small Upstate New York bank sees big growth potential in the Bronx
Orange Bank and Trust in Middletown says it will operate as a boutique commercial bank, focusing on small business, nonprofits and the borough’s sizzling housing construction market.
Small banks risk losing ground in business credit cards
Banks that don’t focus on credit cards for this market may find larger banks and fintechs are eating their lunch.
Press Release: FDIC-Insured Institutions Reported Net Income of $65.4 Billion in the Third Quarter
PRESS RELEASE | DECEMBER 12, 2024 FDIC-Insured Institutions Reported Net Income of $65.4 Billion in the Third Quarter Net Income Decreased From the Prior Quarter, Driven By One-Time Items Community Bank Net Income Increased Quarter Over Quarter Net Interest Income Increased as the Net Interest Margin Rose Across All Size Groups in the Quarterly Banking […]
Walmart’s fintech hits $2.5 billion value; an omen for banks
Walmart is pouring more firepower into its fledgling financial venture, signaling its ambition to wade deeper into financial services.
DOJ’s antitrust lawsuit against Visa is misguided
The Department of Justice is trying to fix a system that isn’t broken. The better move would be to allow the ruthlessly competitive payments marketplace to generate new and better products.
TD faced the U.S. hammer. Now its Canadian compliance gets a revamp.
After the Toronto-based bank faced record penalties in the U.S., it made new disclosures about its anti-money-laundering compliance obligations in Canada, where critics say regulators have been too lax.
CFPB caps overdraft fees at $5 without APR disclosure
In a final rule to be released Thursday, the Consumer Financial Protection Bureau would allow banks to either charge $5 for overdraft fees or another amount commensurate with costs. Banks could also charge more if they disclose the fees’ annual percentage rate of interest to customers.