Australia to regulate Apple Pay, NatWest fights scams with board games
Australia plans to put Apple Pay and Google Pay under the same rules that apply to credit cards, NatWest is inviting customers into its branches for a tabletop game about the perils of financial scams, and more.
Press Release: FDIC-Insured Institutions Reported Net Income of $68.4 Billion in Third Quarter 2023
PRESS RELEASE | NOVEMBER 29, 2023 FDIC-Insured Institutions Reported Net Income of $68.4 Billion in Third Quarter 2023 Net Income Decreased From the Prior Quarter, Driven By Lower Noninterest Income and Higher Realized Losses on Securities The Net Interest Margin Increased From the Prior Quarter to 3.30 Percent Unrealized Losses on Securities Increased From the Prior […]
Small shops provide bigger business for Square’s buy now/pay later loans
Two years after acquiring the installment lender Afterpay, Block, which also owns Square, is seeing the payoff of a strategy that focuses on the sale of specialty items.
Bank consolidation is choking off entrepreneurship in the Midwest
Small towns, in which community banks are disappearing, have increasingly little to offer nascent businesses in the way of reliable credit.
Apple is preparing to exit Goldman credit card pact, WSJ says
The tech company recently sent a proposal to the bank to exit their contract within approximately 12 to 15 months, the newspaper said.
ABA to launch information-sharing exchange to help banks fight fraud
The platform will allow banks to share the names and account information of suspected scammers almost in real time. The American Bankers Association is set to test the system with a group of 20 pilot banks early next year.
Synchrony sells pet insurance unit, cashing in on pandemic-era boom
Synchrony Financial bought Pets Best ahead of a pandemic-driven surge in the pet insurance business. Now it’s selling the subsidiary for a $750 million after-tax gain.
First Busey was drawn to seller’s lucrative niche business
Merchants and Manufacturers Bank in Illinois, has experienced rapid growth and zero lifetime losses in its niche portfolio. First Busey says that business line was a key reason it decided to buy its in-state peer.
Fed’s Barr: CRA update gives banks more ways to engage indigenous tribes
The Federal Reserve’s vice chair for supervision said new definitions around community development activities and the ability for banks to invest outside their immediate assessment areas could be a boon to Native Americans and their communities.
Conforming loan limit boosted 5% by FHFA
The hike was driven by modest home price gains this year, following a larger conforming loan limit boost in 2022 in reaction to then-double-digit home price growth.