Technology: Page 2
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CFPB brings back sandbox but keeps competition emphasis
The bureau’s policies restore the no-action letter and sandbox designation, but feature some tweaks aimed at correcting past “shortcomings.”
By Caitlin Mullen • Jan. 9, 2025 -
Retrieved from from PR newswire on January 08, 2025
Finastra taps new CEO
Chris Walters will succeed Simon Paris, the current CEO of the London-based software firm, who announced Monday he is stepping down from his role.
By Rajashree Chakravarty • Jan. 8, 2025 -
Explore the Trendline➔
da-kuk via Getty ImagesTrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
Judge stays Coinbase, SEC case
Judge Katherine Polk Failla granted Coinbase an interlocutory appeal, leading to a stay, so another court can decide one of the most pressing questions in crypto.
By Gabrielle Saulsbery • Jan. 8, 2025 -
6 banking trends to watch in 2025
Donald Trump’s return to the White House is expected to make an impression on a number of facets in banking – from regulation to M&A to crypto.
By Dan Ennis , Rajashree Chakravarty , Caitlin Mullen , Gabrielle Saulsbery • Jan. 8, 2025 -
Q&A
How Wells Fargo aims to boost trust among underbanked
The bank has been focused on providing services that are “in language and in culture” to foster trust and transparency, said Michael Martino, head of Wells’ inclusion initiative.
By Caitlin Mullen • Jan. 8, 2025 -
Kraken decries crypto de-banking amid Metro Bank ban
Metro is one of several U.K. lenders to impose a bar or limit on deposits into crypto exchanges. A Metro Bank spokesperson says the thrust is to curb fraud.
By Gabrielle Saulsbery • Dec. 19, 2024 -
Flagstar fined $3.5M for ‘misleading’ after 2021 cyberattack
The bank “negligently made” materially misleading statements after a hack that resulted in the theft of 1.5 million customers’ personally identifying information.
By Gabrielle Saulsbery • Dec. 19, 2024 -
Tokenized securities firm Prometheum raises $20M
Co-CEO Aaron Kaplan plans to use the funds to launch trading services, and to provide a venue for financial institutions and investment firms to offer investors tokenized securities.
By Gabrielle Saulsbery • Dec. 18, 2024 -
Tracker
A running list of BaaS banks hit with consent orders in 2024
Regulators have taken a harder look at bank-fintech partnerships. Experts said the orders highlight gaps in due diligence and monitoring related to third-party partners.
Dec. 18, 2024 -
Ally CEO indicates card business not a core focus
“In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.
By Caitlin Mullen • Dec. 13, 2024 -
Gen Digital to acquire MoneyLion in $1B deal
Gen, the global parent firm of cyber safety brands Norton and Avast, will pay $82 per share in cash to add the consumer finance fintech to its roster.
By Rajashree Chakravarty • Dec. 11, 2024 -
FDIC letters give credence to ‘Choke Point 2.0’ claims: Coinbase CLO
The agency asked nearly two dozen banks to pause crypto-related activity in 2022, according to letters unveiled via Coinbase’s FOIA requests.
By Gabrielle Saulsbery • Dec. 11, 2024 -
Citi CFO: Evolving data standards make upgrade more complex
Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.
By Caitlin Mullen • Dec. 10, 2024 -
Citizens tweaks features, eyeing primacy for customers
Recent upgrades to the super-regional’s digital experience are aimed at fueling primacy with clients, a Citizens executive said, as banks vie to be their customers’ No. 1.
By Caitlin Mullen • Dec. 6, 2024 -
Column
Dive Deposits: Citi begins December with a data dump
The bank’s split of Mexican operations was just the beginning. There were also 344 promotions to managing director, a high-profile exit, an AI rollout and a block-trade stumble.
By Dan Ennis • Dec. 6, 2024 -
Celsius founder Mashinsky pleads guilty to fraud
His two-count guilty plea could send the 59-year-old to prison for 30 years.
By Gabrielle Saulsbery • Dec. 4, 2024 -
Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump
The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.
By Caitlin Mullen • Dec. 4, 2024 -
Trump taps crypto lobbyist to lead SEC
Trump’s nominee, Paul Atkins, served as a commissioner at the SEC under former President George W. Bush.
By Alexei Alexis • Dec. 4, 2024 -
Crypto leaders have knives out for attorneys leaving the SEC
Coinbase and Ripple executives want law firms not to hire lawyers who worked on lawsuits against them.
By Robert Freedman • Dec. 4, 2024 -
Fifth Third uses heat mapping to plot where to put new branches
A tool to analyze existing retailers, competitor presence, local income and cell phone data is helping the super-regional place 200 added locations by 2028.
By Gabrielle Saulsbery • Dec. 4, 2024 -
Q&A
Worldpay exec talks digital wallet security
The head of fraud prevention for the processor said the company leverages data to block hackers and fraudsters seeking digital wallet information.
By Patrick Cooley • Dec. 3, 2024 -
Capital One report finds data disconnect between IT, business leaders
Most executives are confident in their organization’s data capabilities. Technical practitioners aren’t so sure.
By Matt Ashare • Dec. 2, 2024 -
Synapse partner banks hit with lawsuit over fund mismanagement
The four banks – Evolve, AMG National Trust, American Bank and Lineage – were sued Friday, after thousands of consumers were left without access to their funds post-Synapse collapse.
By Rajashree Chakravarty • Nov. 27, 2024 -
BNPL use may rise this year for holiday shopping
With credit card interest rates at a historic high, consumers are likely to gravitate to lower-cost alternatives, including potentially buy now, pay later options, industry consultants say.
By Patrick Cooley • Nov. 27, 2024 -
Custodia takes a step back ahead of Trump term
The Wyoming bank, long embattled with the Federal Reserve, aimed to “preserve capital” and its charter before the White House takes a presumably more crypto-positive tone.
By Dan Ennis • Nov. 26, 2024