Beyond the Consumer Financial Protection Bureau (CFPB)’s new rule that would cap credit card late fees, banks are girding for the impact of the Federal Reserve’s updated Reg II proposal, which would cap debit interchange fees. This past October, the Fed unveiled its proposal to...
Canada’s federal budget, released this week, includes a proposal to limit the fees that banks charge customers for overdrawing their accounts. This move is expected to provide relief for low-income clients but could potentially impact the revenue of Canadian banks, Bloomberg reported Thursday (April 18). The proposed...
A top U.S. financial regulator wants more transparency into bank mergers. The Office of the Comptroller of the Currency (OCC) on Monday (Jan. 29) introduced a proposal to update its rules for business combinations for national banks and federal savings associations, connected to the Bank Merger Act (BMA). The...
Michael Berman, CEO of Ncontracts, told PYMNTS that financial institutions (FIs) are grappling with the increasing burdens of vendor lifecycle management. There can be what Berman termed “dire consequences” for FIs as they navigate contract management with their vendors. With the explosion of technology and...
January 23, 2024
Michael Berman, CEO of Ncontracts, told PYMNTS that financial institutions (FIs) are grappling with the increasing burdens of vendor lifecycle management. There can be what Berman termed “dire consequences” for FIs as they navigate contract management with their vendors. With the explosion of technology and digital channels, FIs are interacting with consumers and other clients […]
January 17, 2024
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put...
October 04, 2023
Scott Steinberg, chief operating officer of Enigma Technologies, said there has been an evolution of know your business (KYB) practices — and there’s increased urgency to use technology to tackle...
March 19, 2019
One cannot run a mainframe in the cloud. No one will ever beat the speed of light. Oh, yeah — and no one wants to lose their data to sloppiness, inefficiency...
May 14, 2024
BNP Paribas CEO Jean-Laurent Bonnafé reportedly expressed skepticism about the potential for a revival of mergers and acquisitions (M&A) activity in European banking. Speaking Tuesday (May 14) at a shareholder meeting, Bonnafé highlighted the economic challenges of cross-border and domestic deals in the industry, dampening hopes for increased consolidation, Reuters reported Tuesday. Bonnafé’s comments come […]
January 29, 2024
A top U.S. financial regulator wants more transparency into bank mergers. The Office of the Comptroller of the Currency (OCC) on Monday (Jan. 29) introduced a proposal to update its rules for business...
December 15, 2023
The Financial Stability Oversight Council (FSOC) has, for the first time, identified the use of artificial intelligence (AI) in financial services as a vulnerability in the financial system. That is one of...
December 07, 2023
The federal banking system remains sound but faces credit, market, operational and compliance risks, according to the Office of the Comptroller of the Currency (OCC). The OCC shed light on key risks...
