CFPB Issues New Guidance to Stop Banks from Harvesting …
Sep 23, 2024 · The Consumer Financial Protection Bureau (CFPB) has published new guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements.. Phantom opt-ins occur when banks claim they have customers’ consent to charge overdraft fees but there is no proof they obtained that consent.
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EVENTS » APRIL 24-25: UNIVERSITY OF CHICAGO BOOTH GLEACHER CENTER: CHICAGO, IL Banking Exchange Annual RDP: Risk, Data and Payments Celebrating Ten Years of Publishing 20 Banks Over $50 Billion in Assets 20 Banks Under $50 Billion in Assets
Agencies Issue 2025 Regulation CC Cost of Living Adjustments
May 14, 2024 · The announced adjustments are effective July 1, 2025 On May 13, 2024, the Consumer Financial Protection Bureau (the Bureau) and the Federal Reserve Board (the Board) jointly announced a final rule-making cost of living adjustment (COLAs) for the Regulation CC funds availability rules. The Bureau and...
AI Could Save $3.13 Trillion in Money Laundering
Oct 30, 2024 · Global economies can use AI to prevent and detect money laundering and terrorist financing Global economies could save $3.13 trillion by using AI to prevent and detect money laundering and terrorist financing, according to Napier AI. The Napier AI / AML Index revealed that the US stands to gain the...
Bank Leaders Expect Merger Activity to Accelerate in 2025
Dec 2, 2024 · Nearly half of bank leaders believe their institutions will buy another bank in 2025, suggesting a potential uptick in merger activity in the coming year, according to a new survey on M&A by Bank Director.. Forty-three percent of bank leaders said their institutions were very or somewhat likely to buy another bank next year, up from 35% …
Growth and Confidence Projected in 2025 for Banks and Credit …
Jan 6, 2025 · New research revealed that financial leaders are entering 2025 cautiously optimistic Financial institution leaders have listed challenges such as cybersecurity, talent shortages and digital transformation maturity as the key factors shaping strategies and priorities in 2025, according to Wipfli. Two...
Capital One-Discover Merger Questioned by New York
Oct 30, 2024 · Capital One’s proposed takeover of Discover Financial faces a new investigation into whether the merger violates antitrust law, this time by a New York Attorney General, Reuters reports.. In February, Capital One first announced it would attempt to acquire Discover for $35.5 billion to surpass JP Morgan as the largest credit card company by loans. ...
CFPB Finalizes Rule on Popular Digital Payment Apps to Protect …
Nov 25, 2024 · The Consumer Financial Protection Bureau (CFPB) has finalized a rule to supervise the largest non-bank companies offering digital funds transfer and payment wallet apps.. The rule will help the CFPB to ensure that these companies — specifically those handling more than 50 million transactions per year — follow federal law just like large banks, credit unions and other financial ...
Merger & Acquisition Round Up: MidFirst Bank, Provident
Apr 22, 2024 · MidFirst Bank has announced it will acquire the Houston, Texas banking locations of Amerant Bank. Following the close of the acquisition, which is expected later this year, MidFirst will add six of Amerant Bank’s locations to the company’s footprint as well as 45 employees.. Meanwhile, Wintrust is set to acquire Macatawa Bank, which is a Michigan state-chartered bank headquartered in ...
Crypto Matters for 1 in 7 American Voters, Digital Chamber Survey …
Oct 21, 2024 · A new survey from the Digital Chamber (TDC), a cryptocurrency advocacy group, found that nearly one in seven voters will consider a candidate’s stance on cryptocurrency a critical factor in their vote for the presidency.. With crypto policy now a pivotal issue for a substantial bloc of voters, a significant majority of Americans appear poised to vote for candidates who support the industry.