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3 days ago · Read the latest on the banking & finance industries in the U.S. with award-winning analysis and in-depth reporting by American Banker.
CFPB accuses Walmart and Branch of opening illegal accounts
Dec 23, 2024 · The Consumer Financial Protection Bureau sued Walmart and payment app Branch Messenger, accusing them of illegally opening 1 million deposit accounts and charging $10 million in fees. Branch said the agency refused …
15 most recent bank failures - American Banker
Oct 24, 2024 · Since 2019, 15 banks have failed, with five banks failing in 2023 alone. On October 18, 2024, First National Bank of Linday's demise marked the second bank failure of the year. The collapse raised questions about whether the failure was caused by errors at the bank or by economic issues that could affect other institutions.
American Banker Magazine
The mission of American Banker Magazine is to explore ideas. Our features, news articles, data, rankings and op-eds provide unique analysis of banking trends and strategies.
20 highest-paid bank executives - American Banker
Aug 29, 2024 · In 2023, the top five bank executives with the highest total compensation earned a combined salary of more than $147 million. The average salary for the 20 bank executives making the most money in 2023 was more than $21 million.
Top enforcement actions against banks in 2024 | American Banker
Dec 27, 2024 · The Canadian bank was fined more than $3 billion in penalties and hit with the second-ever asset growth cap for regulatory violations in the U.S. when it pleaded guilty to record anti-money-laundering-related crimes in October. TD is the first bank in U.S. history to plead guilty to conspiracy to launder money after a Department of Justice probe alleged the bank knew its compliance system was ...
Banks sue Fed over stress tests | American Banker
Dec 24, 2024 · Fed Gov. Michelle Bowman called for similar changes in a speech earlier this year. "It is important that regulators consider the lessons learned from past tests and feedback from banks and other members of the public to ensure that stress testing is fair, transparent and more useful going forward," Bowman said in September.
Payments Industry News & Analysis | American Banker
4 days ago · Comprehensive coverage and analysis of the rapidly changing payments business, including digital wallets, investments, compliance and global trends.
Fed to consider changes to stress testing | American Banker
Dec 23, 2024 · The Federal Reserve will seek comment on the current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modifications would not go into effect until at least 2026.
Morgan Stanley and ABN Amro push B2B cross-border payments ...
Dec 18, 2024 · Wise builds partnerships with local technology companies to create a network to manage payment processing on behalf of banks that are moving funds between countries. The network enables parties to make or accept payments in their own currency. Fintechs have traditionally targeted smaller, more frequent cross-border payments as e-commerce sellers look to increase sales to foreign buyers.