How banks can respond to pressure as payment fraud spikes
As regulators and Congress push for stronger consumer protections as losses mount, payment experts say there are steps companies should be making now to respond.
JPMorgan client who lost $50 million amid dementia denied trial
The case is one of the latest to question if firms can be held liable for costly investment decisions made by clients showing signs of mental decline.
Cross-border payments don’t need to be so complicated and expensive
Around the world, low-income communities are routinely cut off from modern payment infrastructures, causing serious economic harm. We must work toward a future in which they are included.
How Zelle fraud compares to other payment apps
Depending on the data, Zelle can be seen either as a leading target for fraudsters and scammers, or better than average at stopping these criminals.
Beth Johnson shares the AI projects underway at Citizens Bank
Citizens is testing the use of generative and traditional AI in several areas, including as a copilot for contact center reps and to help branch staff detect fake checks, she says.
Critics say FDIC governance proposal overreaches, but proponents say few banks are affected.
The proposed FDIC guidelines would impose stricter governance and risk management standards on banks with over $10 billion in assets, drawing concern over potential regulatory overreach and conflicts with state laws.
Territorial in Hawaii postpones merger vote as competing offer lurks
Honolulu-based Territorial Bancorp is delaying the approval vote by about four weeks in order to continue discussions with its shareholders. A group that includes a former Bank of Hawaii CEO is trying to scuttle the $78 million deal with Los Angeles-based Hope Bancorp.
Revolut reacts to Meta’s scam program, Sunwest hires Umpqua exec
Challenger bank Revolut calls for Meta’s scam info program to reimburse victims; Sunwest Bank taps Umpqua’s Mike McKean to lead treasury and payments; Fifth Third launches a new line of business; and more in this weeks banking news roundup.
Klarna’s banking ambitions get a boost from Big Tech
The Swedish buy now/pay later lender has partnered with Adyen and Apple as it builds a merchant network ahead of its U.S. IPO.
What banks need to know about the CFPB’s open banking rule
Banks are trying to get a grasp of the Consumer Financial Protection Bureau’s financial data rights plan, from preparing for an influx of data requests from fintechs to meeting ongoing compliance.