CU vendor TruStage faces 14 suits over monthslong outage
The company, which says it serves 93% of credit unions, expects most key processes to run by mid-August. Its status page still said “Investigating” Wednesday.
BofA strikes $1.9 billion deal for stake in India lender Jio
The move gives Bank of America a stronger foothold in the Indian market by investing in one of the fastest-growing financial firms in the region.
New Jersey is latest frontier in NY bank’s reinvention
Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
Beyond ROI: How banks can better measure AI impact
This is the first in a three-part series on measuring AI impact. Subsequent pieces will explore related organizational and methodological challenges.
Apple executive in charge of pay and wallet services is leaving
Apple Inc.’s Jennifer Bailey, the longtime head of Pay and Wallet services, is retiring after more than two decades at the company, adding to a sweeping changing of the guard at the iPhone maker.
Goldman Sachs to acquire ETF provider Neos in $2.3 billion deal
The cash-and-equity deal will add a fast-growing ETF issuer to the Wall Street giant’s roster of offerings.
Humid July CPI report puts pressure on Fed to hike
The consumer price index ticked up last month, bolstering arguments about broad based inflation and raising the odds of a rate hike next month.
Here are 3 major misconceptions about the Home Loan banks
The Federal Home Loan Bank System is a vital part of the country’s housing market, but over the years, misunderstandings and misleading statistics have muddied the picture when it comes to assessing their importance.
Planned FDIC standards for tech vendors may help small banks
The banking regulator is in early discussions with trade groups to build an organization for certifying tech providers that pass voluntary due diligence checks.
Credit unions win round against Snowflake in data breach case
Santander’s employee data was breached. Credit unions that were never breached are suing over the cards they had to reissue.