Today’s digital landscape has transformed the operational calculus for financial institutions (FIs) and corporations. And with the news Thursday (July 17) that the U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) published a suite of resources to share with financial...
The banking industry wants more time to comply with a new rule governing consumer financial data. The open banking regulation in question is the Consumer Financial Protection Bureau (CFPB)’s “Proposed Required Rulemaking on Personal Financial Data Rights,” which is designed to implement section 1033 of...
Bank earnings continue to show credit remains a key payments choice. U.S. Bancorp’s earnings, released Wednesday (July 17) indicated that within the company’s payment services segment, credit card payment volumes came in at $36.5 billion, up 4.6% year on year. The average loan balance, overall,...
British multinational banking group HSBC has a new chief executive officer. Georges Elhedery, who became HSBC’s chief financial officer (CFO) last year, will move into the chief executive role (CEO) September 2, the bank announced Wednesday (July 17). He replaces Noah Quinn, who announced his...
July 17, 2024
Today’s digital landscape has transformed the operational calculus for financial institutions (FIs) and corporations. And with the news Thursday (July 17) that the U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) published a suite of resources to share with financial services institutions on effective practices for their secure cloud adoption […]
July 17, 2024
As online scams and financial crimes continue to surge at the halfway point of 2024, banks and payment companies are ramping up efforts to protect consumers and their own bottom...
July 15, 2024
Earnings season is in full swing, as big banks – specifically, JPMorgan and Citigroup – helped sway the fortunes of the CE 100 Index. The Index was up 1.3% for...
July 12, 2024
Prudent regulation is needed in helping to define the risks and rewards in emerging partnerships between financial institutions and banks — but current regulatory efforts may be too vague, critics...
July 18, 2024
Commerce Bancshares saw its net income increase 9% year over year, driven in part by expanding net interest margin. For the quarter ended June 30, the Missouri-based regional bank holding company with 142 branches in seven states posted a net income of $139.6 million, up from $127.8 million in the same quarter last year, according […]
July 17, 2024
The banking industry wants more time to comply with a new rule governing consumer financial data. The open banking regulation in question is the Consumer Financial Protection Bureau (CFPB)’s “Proposed...
July 17, 2024
British multinational banking group HSBC has a new chief executive officer. Georges Elhedery, who became HSBC’s chief financial officer (CFO) last year, will move into the chief executive role (CEO)...
July 16, 2024
PNC Financial Services Group saw expected increases in total nonperforming loans and net loan charge-offs in the second quarter. The increases were primarily due to high commercial nonperforming loans and...
