Regulators reaffirm commitment to embattled CRA reforms in personal terms
Top banking regulators reaffirmed their commitment to bolstering the Community Reinvestment Act despite a court challenge, emphasizing their personal dedication to seeing the rule implemented.
Boston bank to sell 10 branches in Upstate New York
Berkshire Hills Bancorp declined to detail the savings it expects from the downsizing, though one analyst estimated it could shave $3 million from the company’s annual noninterest expenses.
Dave reports first profitable quarter, expects lucrative 2024
The fintech has grown its way into the black for the first time since going public in January 2022, CEO Jason Wilk says, capitalizing on AI-underwritten cash advances of up to $500.
‘The Fed has to keep up’: McHenry blasts dated discount window tech
The chair of the House Financial Services Committee called the last resort lending facility “a generation behind” broader capital markets. He said modernization should be part of the Federal Reserve’s response to last year’s bank failures.
Court deals a blow to BOI reporting regime
The ruling further complicates an already complicated area — the law’s mandate around beneficial ownership information reporting.
Whatever happened to deposit insurance reform?
The failures of several midsized banks last year demonstrated shortcomings in the deposit insurance framework and lit a fire among policymakers to take it on. But for some reason that fire went out.
U.S. Chamber says it will sue the CFPB over credit card late fee rule
Banks and trade groups denounced the Consumer Financial Protection Bureau’s final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.
Bank of America, Wells Fargo offer access to bitcoin ETFs
Clients that have a brokerage account with either bank can invest in the exchange-traded funds tied to the spot price of bitcoin, as the currency’s value sits at historic highs.
Mastercard’s Shamina Singh: Bringing global resources to micro merchants
As founder of the card network’s Center for Inclusive Growth, Singh brings financial resources, corporate tools and volunteer expertise to small businesses around the world.
Banks and fintechs need to share data to combat first-party fraud
False transaction disputes and other individual-level financial fraud cost the industry billions. It’s time to join forces and even the odds.