FDIC workplace probe outlines pervasive culture of misconduct
An independent examination of the Federal Deposit Insurance Corp. workplace culture revealed an atmosphere of sexual harassment, discrimination and misconduct at the agency and raised the need for significant reforms.
Cloud consolidation is eroding cyber resilience of payments, CISOs warn
Cybersecurity leaders for Visa, Deluxe and Fiserv said powerful cloud players have been unresponsive to their requests to monitor the vendors’ security postures.
Special Review Committee of the FDIC Board of Directors Releases Independent Third-Party Report
REPORT | MAY 7, 2024 Special Review Committee of the FDIC Board of Directors Releases Independent Third-Party Report The Special Review Committee of the Federal Deposit Insurance Corporation (FDIC) Board of Directors today released the report from the independent third-party review conducted by Cleary Gottlieb. Read the Special Review Committee’s Press Release Read FDIC Chairman […]
The administration’s crusade against bank fees may undermine other priorities
Banks rely on fee income to a greater or lesser extent depending on business model, and the Biden administration is intent on cutting consumer fees across the economy. But that push might hamper another administration priority: financial inclusion.
House set to vote on nullifying SEC crypto custody guidance for banks
The full House is scheduled to vote Wednesday on a Congressional Review Act resolution that would overturn a staff accounting bulletin from the Securities and Exchange Commission. Banks argue that the guidance would effectively cut them out of the crypto custody business.
Chime to pay $4.5 million for illegally delaying consumer refunds
Thousands of consumers had to wait more than 90 days for funds after their accounts were suddenly closed, according to the Consumer Financial Protection Bureau.
Synovus’s head of treasury and payment solutions on taking risks: The Climb
Katherine Weislogel’s career began by being in the right place at the right time.
Large member banks help lower the cost of Home Loan bank advances
As the Federal Housing Finance Agency considers revising Federal Home Loan bank membership standards, it should consider the benefits of scale that large member banks make possible.
‘The law was very clear’: Inside the Fed master account debate
Custodia Founder and CEO Caitlin Long says the Federal Reserve has rewritten the rules around accessing the government’s payments system. The central bank and a federal court judge disagree.
Visa develops a gen AI model to combat card-testing fraud
By training a core payment card fraud-detection platform on more than 15 billion transactions, the card network is honing the accuracy of warnings sent to issuers about suspicious purchases.