A spate of recent enforcement decisions from the FDIC underscores risks that banks face — external as well as internal ones, where employees have allegedly leveraged vulnerabilities from the inside. The decisions, accessible here, construct a theme, as officers and workers, named in the actions...
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has withdrawn its finding that ABLV Bank, AS is a financial institution of primary money laundering concern, because the bank no longer operates as a depository institution. ABLV was a commercial bank located in Riga, Latvia, and FinCEN found...
The Federal Deposit Insurance Corp.’s latest data on deposits shows just how bifurcated the banking industry is, in terms of the largest players, home to the great bulk of overall deposits here in the states. To that end, the top five institutions — ranked by...
Cash may not be king in the digital age, but the dollars and the coins are still essential. Regulators and central banks, through new laws and research, have underscored the usefulness of financial institutions (FIs), merchants and other enterprises giving what we might term cash...
October 04, 2024
The healthcare landscape is as complex and slow moving as it is vital. But in an industry notorious for its slow tech adoption, healthcare providers are being pushed to overhaul their payment systems as digital-first solutions become the norm. Against this backdrop, the critical role of collaboration between banks and healthcare providers has taken on a […]
September 23, 2024
The Federal Deposit Insurance Corp.’s latest data on deposits shows just how bifurcated the banking industry is, in terms of the largest players, home to the great bulk of overall...
September 12, 2024
Open banking, which allows third-party providers to access banking data through secure application programming interfaces (APIs), has gained momentum globally as a means to enhance financial services. Recent U.S. regulatory...
August 14, 2024
Digital wallets are transforming payments and commerce. In today’s operational landscape, where convenience reigns supreme and value-added services drive customer stickiness, the financial services industry faces new challenges and opportunities...
September 26, 2024
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has withdrawn its finding that ABLV Bank, AS is a financial institution of primary money laundering concern, because the bank no longer operates as a depository institution. ABLV was a commercial bank located in Riga, Latvia, and FinCEN found it to be of money laundering concern in 2018, the […]
September 10, 2024
Goldman Sachs and Barclays are seeking a deal on Goldman’s $2 billion portfolio of loans made to General Motors customers. The deal, if it goes through, will see Goldman Sachs sell...
September 05, 2024
Sedric AI has raised $18.5 million in a Series A funding round to continue developing and promoting its artificial intelligence (AI)-powered compliance platform for financial institutions. The company will use...
August 30, 2024
Goldman Sachs reportedly plans to lay off between 3% and 4% of its workforce — amounting to about 1,300 to 1,800 people — as part of its annual review process....
