How JPMorgan Chase is prepping for Q Day
The bank is developing algorithmic models that will be ready to take advantage of quantum computers when they become powerful and reliable enough to use. It’s also taking steps to defend itself against the day cybercriminals can harness quantum computing to break the encryption protocols everyone uses.
ACNB in Gettysburg to acquire Pennsylvania peer Traditions Bancorp
The $73.5 million all-stock deal, slated to close early in 2025, would create a bank with more than $3 billion of assets.
Santander Lifts Revenue Goal as Botin Sees Efficiency Gains
The Spanish bank recorded its best efficiency ratio in 15 years, Chairwoman Ana Botin said in its quarterly earnings statement.
Surge in counterfeit checks prompts outcry from small community banks
A rising number of check fraud cases involving counterfeit checks is compounding the already-serious problem of fraud in one of the oldest payment methods widely available.
Suni Harford, former president of UBS assessment management’s exit interview: The Climb
After 40 years in finance, Harford is now learning to play golf and mahjong, and spending more time with family and friends.
Block to refocus Cash App; stablecoin pay expands
The payments company is pulling Cash out of the U.K. as it tries to expand the peer-to-peer app in the U.S.; firms in Hong Kong and Australia try to make stablecoin transactions global; and more.
The CFPB’s earned wage access rule is misguided and disappointing
The Consumer Financial Protection Bureau reversed itself, declaring that earned wage access programs, which conduct no underwriting and charge no interest, are loans. This is a disservice to the industry and consumers.
Lawmakers say banks aren’t doing enough for Zelle fraud victims
Sen. Richard Blumethal, D-Conn., chair of the Senate Permanent Subcommittee on Investigation, asked bankers whether the Electronic Funds Transfer Act should be updated to include scams that involve authorized fund transfers.
Visa’s CEO swipes at interchange settlement dismissal
A federal judge recently rejected an agreement on transaction fees, ensuring that a multi-year battle between the credit card companies and merchants will continue. Ryan McInerney vented during Tuesday’s earnings call.
Old National Bancorp sees growth in deposits, loans after acquisition
Old National Bancorp earnings remained strong as it continued its expansion into the southeast with its recent closure of an $344 billion acquisition of CapStar. Executives said they foresee similar growth for the remainder of the year.