is there a problem with the banks today
- Banking
Wells Fargo continues mortgage layoffs
Wells Fargo will lay off 107 workers at the end of August in Des Moines, where its home mortgage division…
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Troubled payments startup Bolt reaches settlement in customer suit
Authentic Brands Group, which owns and licenses brands like Forever 21, has settled its lawsuit against Bolt Financial. The agreement ends months of…
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Mounting pay pressure at banks as Truist, JPMorgan hike minimum wages
A hot job market is prompting some large banks to raise their minimum wages, continuing a trend that will likely…
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Fed bans former Golden Pacific investor from banking industry
Karl K. Klessig, an investor who sought to acquire the former Golden Pacific Bancorp in Sacramento, California, was banned from…
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What banks, credit unions can learn from VyStar-Heritage merger’s demise
VyStar and Heritage Southeast Bank had delayed the closing of their merger deal three times as they sought approval from…
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UMB’s real-time payments plan is to take it slow and steady
Banks are under a lot of pressure to rapidly add real-time payment settlement, though UMB Bank says it’s more important…
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Burke & Herbert in Virginia to form holding company
Virginia’s oldest bank announced plans Wednesday to form a bank holding company. Pending regulatory approval, the 170-year-old Burke & Herbert…
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Goldman Sachs plans office tower in Dallas for 5,000 employees
Goldman Sachs Group plans to anchor a new office tower in Dallas that would hold thousands of employees, part of…
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Crypto lobbyist will run for New York seat in House
WASHINGTON — The head of a crypto-focused trade association has decided to run for an open House seat from New…
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Associated Banc-Corp recruits two Huntington executives for top posts
Associated Banc-Corp CEO Andy Harmening is hiring two former colleagues from Huntington Bancshares to fill key posts at the Green…
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CFPB’s tactics in Fifth Third lawsuit called ‘pretty aggressive’
The Consumer Financial Protection Bureau is getting blowback from a federal judge and banking experts for tactics used in its…
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CFPB seeks input on customer service issues at large banks, credit unions
The Consumer Financial Protection Bureau issued a request for information on customer service at large banks and credit unions as…
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PacWest in California signals CEO succession plan
PacWest Bancorp in Los Angeles, whose chief executive is among the longest-tenured bank leaders in the country, has unveiled a…
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To serve communities, banks need the ability to grow
As federal policymakers scrutinize bank mergers, the consolidation’s effect on communities is quite rightly an important focus. And analysis shows…
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BlockFi, Crypto.com slash jobs as market meltdown worries swirl
Two big names in crypto are cutting jobs as the digital currency market continues to spiral downward. The crypto lending…
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More than 60% of credit unions at risk for climate-related losses: Report
Following natural disasters, credit unions traditionally step in to help members regain their footing through low-interest loans, lines of credit…
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The ‘visionary’ behind a tech-savvy commercial bank
Allan Rayson’s zest for banking and innovation can be summed up by his Peloton screen name: Finov8r. But he didn’t…
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Should the Fed decide who gets a master account?
A long-running debate about which institutions can access the Federal Reserve’s services is nearing a tipping point. The question has…
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Huntington’s payments acquisition brings disbursements up to speed
Over the last five years, Huntington has made significant investments to upgrade its treasury management business, in part due to…
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CrossFirst CEO Maddox to focus on strategy, cede daily management role
After nearly 14 years directing day-to-day affairs at the Leawood, Kansas-based CrossFirst Bank, Mike Maddox is taking a step back.…
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Are wages for bank workers keeping pace with CEO pay?
Numerous big banks have hiked their minimum wages amid high inflation and heightened competition for workers. But a new report…
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How JPMorgan Chase is using payments data to woo merchants from fintechs
Payment firms for years have offered card data to support their business clients’ strategies, a concept JPMorgan Chase hopes to…
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State Street falls after staying mum on Credit Suisse bid report
State Street fell the most in almost two months after declining to comment on a report it’s looking to acquire…
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6 de novos explain their tech choices
The technology options for de novo banks are plentiful and, some say, stronger than ever. “The choices have never been…
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Green Dot pays $13 million to settle lawsuit over scuttled acquisition
The prepaid card company Green Dot has paid $13 million to Republic Bank & Trust to settle a lawsuit over…
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Two Virginia credit unions to merge ahead of CEO retirement
Arlington Community Federal Credit Union in Arlington, Virginia, has agreed to merge with neighboring InFirst Federal Credit Union in Alexandria.…
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PayPal mounts crypto offensive after N.Y. grants a full license
PayPal Holdings will let users transfer certain cryptocurrencies to other customers, exchanges and external wallets, a new service that’s part…
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Progressives seek guidance-first approach to climate risk
WASHINGTON — A push from progressives to have federal bank regulators rely more heavily on supervisory tools and guidance to…
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Banks and tech giants are losing skilled staff to flexible fintechs
Staff at major banks and some of the world’s biggest technology giants are increasingly leaving for fintech startups, new analysis shows. Bankers,…
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Nacha learns bigger is better for same-day ACH payments
Raising the ceiling for faster payments was like bursting a dam for Yasser Abou-Nasr, who sees a chance for Dwolla,…
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Longtime CEO of Upward Credit Union in California to retire
Linda White, president and chief executive of Upward Credit Union in Burlingame, California, is retiring. The $100 million-asset credit union…
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All together now: Regulators tout benefits of CRA revamp
WASHINGTON — Banking regulators put on a united front in defending their revamp of anti-redlining legislation in the first time…
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Bank economists advise caution, but don’t expect a recession
The U.S. economy will slow this year and through 2024 but avoid recession, despite a cavalcade of threats that include…
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Eagle in Maryland paying $12.6 million to settle long-running SEC probe
Eagle Bancorp in Bethesda, Maryland has agreed to pay more than $12.6 million to settle a Securities and Exchange Commission…
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Dimon fires back after shareholders vote down his pay package
Jamie Dimon had harsh words Wednesday for institutional investors who vote on corporate matters based on the recommendations of proxy…
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EMVCo to simplify specifications for contactless payments
There are more than 20 different ways that technology companies enable contactless payments under current EMVCo standards, something the organization…
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Banks bid for viral fame with videos and influencers on Instagram
Julie Waddle did not expect her video about Venmo to go viral. The digital marketing manager at FNB Community Bank…
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Diabetes Giant Snags A New Win After A Pandemic-Tied Delay
European officials approved Dexcom‘s (DXCM) newest body-worn diabetes device on Monday, leading Dexcom stock to surge closer to its 50-day…
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Use Science To Boost Your Motivation
Not feeling motivated at work or at home? You’re not alone. But science can help. X Following years of isolation…
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HPE Stock Rises As Earnings Top Estimates Amid Supply-Chain Constraints
Hewlett Packard Enterprise (HPE) reported fiscal first-quarter earnings on Tuesday that topped estimates while revenue met views. HPE stock edged…
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Georgia’s Own signs first credit union-bank deal of 2022
In the first deal of 2022 involving a credit union buying a bank, Georgia’s Own Credit Union in Atlanta has…
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The EV Giant Catching Up To Tesla
Tesla (TSLA) and BYD Co. (BYDDF) are both fast-growing EV giants. While a lot of attention falls on startups such…
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BofA outage shuts out thousands online, service now restored
Bank of America’s online-banking platform went down for several hours Friday, leaving thousands of customers locked out of their accounts…
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What can an investment bank teach us about American power?
One of the most important—and most difficult—challenges in public policy is the problem of causation. What causes a bad or…
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Five E-Commerce Plays Near Buy Points
Amazon stock and Shopify (SHOP) lead this weekend’s watch list of five e-commerce stock in or close to buy range…
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How To Beat The Stock Market: Try These Seven Mental Trading Tips
Investors appear to have a tough time outperforming the stock market indexes in 2021. X A July 22 poll held…
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Quanta Services Stock Scores 92 RS Rating; Enters Renewable Energy Space
On Friday, Quanta Services (PWR) stock earned a positive adjustment to its Relative Strength (RS) Rating, from 88 to 92.…
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Is DocuSign Stock Ready For Another Swing Trading Chance?
DocuSign (DOCU) sticks out as one of the leading stocks of the market with a best possible IBD Composite Rating…
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Coinbase, Circle to move all USDC reserves into cash, Treasuries
A consortium including Coinbase Global said all the reserves of the second-largest cryptocurrency stablecoin will shift into cash and short-term…
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Are cryptocurrency exchanges the new Swiss banks?
There is nearly a $1 trillion gap between the amount of taxes the Internal Revenue Service is owed and what…
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