We’re in a critical moment for market accessibility and resilience
The convergence of technology like blockchain with the continued evolution of rules and industry standards in traditional finance will shape the next era of market progress.
Who are the contenders to replace Jamie Dimon at JPMorgan Chase?
As the 68-year-old CEO focuses on succession planning, here’s a look at some of the longtime JPMorgan executives who could succeed him.
Warren, Waters blast ‘meritless’ industry lawsuit against CRA reform
Sen. Elizabeth Warren, D-Mass., and Rep. Maxine Waters, D-Calif., said in a letter to the American Bankers Association and the Chamber of Commerce that the banking industry gets a “free pass” in Community Reinvestment Act examinations.
Citi tasks ex-PwC leader with overseeing data quality improvement team
Tim Ryan, who joined the megabank in June, will work with COO Anand Selva to oversee enhancements to Citigroup’s data integrity systems, according to a memo.
Oldest credit union in U.S. keeps battling big banks, scamsters
St. Mary’s Bank in New Hampshire tries to serve members as it has for 116 years, while dealing with today’s cybersecurity and fraud concerns.
Kentucky bank ATM dispenses fake $100 bills
Independence Bank of Kentucky said 14 customers had reported receiving the bills, which included text such as “for motion picture purposes.”
Upstart is emerging from its nuclear winter, CEO says
The company, a pioneer in AI-based lending, says improvements to its models and long-term commitments from the banks it works with will bring about positive returns in the third and fourth quarters.
How credit unions are staying relevant in the BNPL space
As member demand for installment payments increases, resource-strapped institutions are looking for outside help. Fintechs offer the service.
Citigroup to sell trust services unit to JTC for $80 million
Citigroup Inc. is selling its global fiduciary and trust administration services business to JTC as the U.S. bank’s wealth arm focuses more on the likes of wealth planning and investment management.
Sterling in Michigan to sell bank for $261 million
EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as planned, it would culminate a long saga for Sterling.