breaking banking news
- Banking
Biden signs Inflation Reduction Act in major win for climate finance, tax reform
WASHINGTON — President Biden signed the Inflation Reduction Act into law Tuesday afternoon, capping a legislative achievement that will direct…
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Fed warns banks to check legality of crypto-related activity
WASHINGTON — The Federal Reserve is directing banks under its supervision to check in with the regulator before engaging in…
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Toomey accuses FDIC of chokepoint-esque crackdown on banks and crypto
WASHINGTON — Sen. Pat Toomey, R-Pa., is pressing the Federal Deposit Insurance Corp. on its stance toward banks involvement in…
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Citi sues Revlon over lender status after $900 million mistake
Citigroup has sued Revlon in a bid to resolve a nagging legal question that emerged after the bank mistakenly wired $900 million…
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Where credit unions are beating banks in customer experience
Jennifer Bolivar, senior vice president of business transformation at Suncoast Credit Union in Tampa, Florida, remembers with pride how her…
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It’s up to regulators to stamp out excessive overdraft fees
Financial institutions rake in billions annually from overdraft fees. Some banks and credit unions recently have curbed or ended these…
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Humanizing the bank customer experience: who does it best?
With more options for which provider to use for their banking needs than ever before—from retail banks and credit unions…
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Refugees offer untapped banking talent in tight labor market, BMO says
BMO Financial Group has launched an initiative to recruit talent from a group of unemployed professionals in desperate need of…
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PNC nixes fees for nonsufficient funds
PNC Financial Services Group is joining the growing list of banks that are no longer charging fees to customers who…
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The true cost of misleading headline inflation statistics
Several key government-reported headline statistics present a distorted view of reality for most Americans, with the impact extending far beyond…
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What banks can learn from phishing attacks on Cloudflare, Twilio
Threat actors targeted two major tech firms with nearly identical phishing schemes last week. In one case, attackers gained access…
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A ‘behind the scenes’ BNPL firm seeks to bring banks to the market
The buy now/pay later market has a big gap that needs to be bridged between fintechs on one side and…
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For teens struggling to understand money, banks try to teach financial education
When asked what mitochondria are, many high school students will not let a beat go by before they proudly answer,…
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Sen. Warren blasts Fed for withholding trading records
U.S. Sen. Elizabeth Warren rebuked Federal Reserve Chair Jerome Powell for withholding information on trading by central bank officials during…
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JPMorgan gold traders found guilty in Chicago spoofing trial
The former head of the JPMorgan Chase precious-metals business and his top gold trader were convicted by a federal jury…
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Taking over REI credit card, Capital One drops mobile payment incentive
Capital One Financial has added REI Co-op, the outdoor equipment retailer, to its expanding clutch of co-branded retail credit card…
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Durbin, Whitehouse, Sanders join effort to revoke OCC crypto guidance
WASHINGTON — Three prominent Democratic senators joined an effort to eliminate Trump-era regulatory guidance that cleared national banks to explore…
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M&A jitters abound, but some banks forge ahead
Bank merger-and-acquisition activity, overall, has slowed substantially in 2022 amid lofty inflation, rising interest rates and downward pressure on stocks.…
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Morgan Stanley taps its treasurer as president of banking units
Morgan Stanley tapped its treasurer to help run its banking units, where it’s been building out its lending business over…
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What the Senate’s sweeping climate, tax package means for banks
WASHINGTON — The U.S. Senate passed a sweeping legislative package on Sunday that could supercharge the federal government’s efforts toward…
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