Banking Industry Newsfeeds

Capital One's Fairbank, eyeing 'holy grail,' takes a calculated risk

Wednesday, February 21, 2024

The credit card lender's blockbuster acquisition of Discover is not guaranteed to get across the finish line. But co-founder and CEO Richard Fairbank appears to see the rewards that would come from controlling a payments network as outweighing the potential downside.

Bank economists guardedly optimistic on business lending

Wednesday, February 21, 2024

The American Bankers Association's latest credit conditions indices show that economists at major banks are feeling more confident about commercial lending in 2024 — but they stop far short of a ringing endorsement.

Will the Capital One-Discover deal stall Durbin's interchange bill?

Wednesday, February 21, 2024

Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Durbin, D-Ill. — which aims to spur competition for Visa and Mastercard.

OCC's Hsu proposes 'tripwire' approach to FSOC designations

Wednesday, February 21, 2024

Acting Comptroller Michael Hsu Wednesday suggested the Financial Stability Oversight Council adopt a "tripwire approach" for systemic risk assessment, using systemic risk metrics to advance designations.

The LockBit takedown is a victory, but it may be fleeting

Wednesday, February 21, 2024

Though law enforcement agencies in the U.S. and Europe gained valuable intel on ransomware groups, many believe the hackers are likely to regroup and rebrand.

How to apply for the Best Banks to Work For 2024

Wednesday, February 21, 2024

The application deadline for this annual ranking is May 12.

Navy Federal names next chief executive

Wednesday, February 21, 2024

The world's largest credit union said that Dietrich Kuhlmann, a retired rear admiral and currently the institution's chief operating officer, would succeed retiring CEO Mary McDuffie on March 1.

TerraPay hires former Visa exec, Revolut adds AI to battle fraud

Wednesday, February 21, 2024

London-based global money-transfer firm TerraPay has hired Ruben Salazar Genovez, the longtime global head of Visa Direct, in a new role as the startup's president; U.K. challenger bank Revolut has added a tool that uses machine learning to flag payments for fraud; and more.

The CFPB's data access requirements should apply to auto loans

Wednesday, February 21, 2024

In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.

How Discover brings Capital One closer to merchants

Wednesday, February 21, 2024

The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.

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