AI troubles, Mastercard layoffs: Top tech news August 2024
In August’s roundup of top tech news: Banks and retailers wrestle with the unseen consequences of artificial intelligence, Mastercard lays off roughly 3% of its workforce and more.
Brazil’s dynamic payments market attracts Airwallex
The payments platform is preparing for expansion to a market that has a fast-growing real-time transaction rail, making the country a hot spot for international investment.
Data breach, USAA lawsuit: Top banking news August 2024
In August’s roundup of top banking news: The impact of National Public Data’s breach on banks, USAA agrees to $64 million settlement in overcharging case and more.
City National’s new branch, Fiserv expands tech alliance with PayPal
City National Bank plans a new branch in California that fulfills one of its settlement obligations with the DOJ; Fiserv and PayPal expand their tech collaboration; Banc of California’s Monica Sparks steps down; and more in this week’s banking news roundup.
Six technology C-suite changes at banks, fintechs in August
Truist, TAB Bank and MoneyGram headlined some of the biggest changes in executive leadership in the banking, fintech and payments industries.
Press Release: FDIC Issues CRA Examination Schedules for Fourth Quarter 2024 and First Quarter 2025
PRESS RELEASE | AUGUST 30, 2024 FDIC Issues CRA Examination Schedules for Fourth Quarter 2024 and First Quarter 2025 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the fourth quarter 2024 and first quarter 2025. CRA regulations require each federal […]
Press Release: FDIC Makes Public July Enforcement Actions; No Administrative Hearing Scheduled for September 2024
PRESS RELEASE | AUGUST 30, 2024 FDIC MAKES PUBLIC JULY ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARING SCHEDULED FOR SEPTEMBER 2024 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July 2024. There are no administrative hearings scheduled for September 2024. The FDIC […]
Community banks are a vital anchor in turbulent economic times
It’s unclear what will happen when the Fed starts cutting interest rates, but community banks will be there to support their customers no matter what the economy looks like.
July PCE reading bolsters outlook for Fed rate cut
The Federal Reserve’s preferred measure of inflation held steady at 2.6% for the third month in a row, a positive reading that increases the odds of a September rate cut.
FDIC votes to outsource executive conduct probes despite pushback
The FDIC Board voted to have another federal agency handle investigations of senior leaders based on allegations unearthed in an independent review published this spring. The move is aimed at ensuring accountability, but was criticized for potential delays.