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Rising leaders honored at Most Powerful Women in Banking Next awards. The American Banker award ceremony, which celebrated 15 women honorees 40 years or younger nominated for having C-suite potential by an executive at their institutions, took place at The Glasshouse in New York City. By Joey Pizzolato. October 24.
Hackers used two Fidelity accounts to steal data from 77,000 …
Oct 10, 2024 · Cybercriminals recently stole personal information on 77,099 consumers using two Fidelity Investments customer accounts they created posing as legitimate customers, the investing platform said in a public disclosure Wednesday. Between August 17 and August 19, the attackers "obtained certain information without authorization using two customer ...
Inside Capital One's quest to spread ID tech - American Banker
Oct 9, 2024 · AirKey, which Capital One developed seven years ago, enables credit and debit cards to be used for enrollment and to verify user identity at the point of sale. AirKey is designed to address a chronic fear in the payments industry, with fraud on the rise. Push-payment fraud is expected to reach $6.8 billion in early losses by 2027, a compound ...
Mastercard and Citigroup partner to battle fintechs for global …
Oct 10, 2024 · Both Citi and Mastercard face threats. As cross-border payments become more common among consumers and smaller businesses in an age of e-commerce, Citi faces competition from HSBC and other large banks that are enhancing their international payments strategies to add flexibility and processing speed. JPMorgan, for example, has turned to …
20 banks with the biggest commercial real estate loan portfolios
Jun 30, 2022 · The top five banks in our ranking had a combined commercial real estate portfolio of nearly half a billion dollars at the end of 2021. With several leaders growing by more than a third last year, others saw year-over-year increases of more than 120%. Scroll through to see which banks made the top 20 and how they fared in the 12 months ending in Dec. 31, 2021.
First-ever redline order against a credit union shocks industry
Oct 11, 2024 · Citadel Federal Credit Union agrees to a $6.5 million deal with the Justice Department to settle allegations of discriminatory lending around Philadelphia. It was the DOJ's first-ever redlining order against a credit union.
What a Chime IPO would mean for banks and fintechs
Sep 27, 2024 · Chime is rumored to be planning an initial public offering in 2025, with Morgan Stanley handling the deal. Chime did not confirm, deny or comment on the speculation. If this does happen, the deal would give a large neobank the chance to become even bigger. Chime now has more than 38 million customers, according to Cornerstone Advisors research.
Wells Fargo nearing 'trough' in deposit costs after Fed rate cut
Oct 11, 2024 · Bloomberg News reported last month that Wells Fargo submitted an outside review of its reformed operations to the Federal Reserve, a milestone in the company's work. The Fed imposed the asset cap in 2018 following the bank's consumer abuse scandals. The timeline has stretched far beyond what now-ousted executives once hoped. But investors have salivated …
'Profits over compliance': TD takes record $3 billion guilty plea
Oct 10, 2024 · Attorney General Merrick Garland said at a press conference that by helping criminals, TD "became one" itself, creating "an environment that allowed financial crime to flourish. TD agreed to pay $3.09 billion in fines, and its U.S. assets will be limited indefinitely at about $434 billion.
PayPal's solution for AI scalability? Partners
Sep 27, 2024 · PayPal has responded to what new CEO Alex Chriss has called an " unclear focus " by streamlining payments technology through artificial intelligence. A second phase of that strategy is getting the new tools in front of consumers as quickly as possible, a plan that needs help from the outside. A new collaboration with checkout technology company ...