Mastercard realigns business structure, NY Fed joins cross-border test
Mastercard established a new structure for businesses focused on card acceptance and transaction processing, new payment flows, and value-added services. Separately, the Federal Reserve Bank of New York is joining several countries’ central banks in a test of tech to support cross-border transactions.
Press Release: FDIC Releases Comprehensive Report on Orderly Resolution of Global Systemically Important Banks
PRESS RELEASE | APRIL 10, 2024 FDIC Releases Comprehensive Report on Orderly Resolution of Global Systemically Important Banks WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today released a comprehensive report on how the FDIC would manage the orderly resolution of a large, complex financial company under Title II of the Dodd-Frank Wall Street Reform […]
The banking and crypto markets may be more symbiotic than you think
Many assumed the advent of cryptocurrencies heralded a revolution in finance. The truth may be that crypto’s overall impact on the financial services industry is more evolutionary than revolutionary.
Even before Fed cuts rates, banks trim what they pay for deposits
Some online banks that offer high-yield savings accounts are making those products a little less high-yielding. Banks are also shortening the duration of new CDs, hoping that anticipated rate cuts by the Fed will enable them to start paying less to consumers.
Discover deploys generative AI in its contact center
The financial services firm is using Google Cloud’s Vertex AI platform to help customer service agents quickly locate and understand policies when answering queries.
NYCB’s latest challenge: Losing bankers to competitors
The beleaguered Long Island bank has recently seen at least 16 teams walk out the door, according to announcements by Dime Community Bancshares and Peapack-Gladstone Financial.
White House, Senate Democrats pitch pandemic aid fraud crackdown bill
Democratic Sens. Dick Durbin and Gary Peters of Illinois, and Ron Wyden of Oregon, have released a $1.3 billion piece of legislation to crack down on identity fraud in government-related pandemic programs and empower investigators.
Amex bolsters digital design to boost customer satisfaction
As American Express has evolved with new products, its largest digital design team is rethinking how to finesse online and mobile design with the customer at the forefront.
Can financial regulation give the people what they want?
The populist backlash from the Great Financial Crisis turned the financial regulatory world upside down. Fifteen years later, that populist force is still informing how people vote, how financial regulation is crafted and how regulators see themselves.
Small and midsize business optimism bodes well for credit quality
A solid majority of decision-makers at these companies expect to expand their workforces again this year, a Citizens Financial survey found. Loan losses are normally low in eras of economic expansion.