India is leading the way in financial inclusion for women
The Indian government’s efforts to create digital public access for women can be a model for other countries.
Morgan Stanley’s profit slides on investment bank slowdown
Even with the declines, Morgan Stanley joined the biggest U.S. banks in surpassing trading expectations.
Real-time payments leave little time to spot fraud. Can fintechs help?
Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.
Five takeaways from American Banker’s AI Summit
How to use, govern and adopt AI were some of the main themes from the Monday event.
Bank of America’s unrealized losses cast shadow over strong Q3 earnings
The nation’s second-largest bank reported strong growth in net interest income, revenue and profits. But analysts continued to express concern about unrealized losses, which swelled to $131.6 billion.
Sunshine Act Notice: FDIC Board of Directors Meeting
SUNSHINE ACT NOTICE | OCTOBER 17, 2023 FDIC Board of Directors Meeting The FDIC Board of Directors will meet in open session: Time and Date: 3:00 p.m. on October 24, 2023. Place: This Board meeting will be open to public observation only by webcast. Visit https://www.fdic.gov/news/board-matters/video.html for a link to the webcast. FDIC Board Members and staff will participate […]
Bank of America, Wells Fargo plan more branch closures
The two megabanks continue to shrink their branch networks, with BofA planning to close 20 locations and Wells recently shuttering 15. Both banks are also opening new branches in certain markets.
Bank of New York Mellon says it’s on track to beat 2023 expense target
Executives of the $405 billion-asset bank say that they have completed 40% of a cost-cutting strategy begun earlier this year.
Goldman, stuck in credit card deals, tries to turn lemons into lemonade
Goldman Sachs said that its partnerships with Apple and General Motors are hard to exit in the short term. So the investment banking giant is concentrating on making the deals profitable, even as it acknowledges that they may not be a long-term fit.
ACI Worldwide reaches $20M settlement with regulators for past snafu
The servicer said it entered into the consent order “without admitting any wrongdoing, to avoid the expense and distraction of litigation.”