Application programming interfaces allow software programs to talk to each other. They are a potential solution to the current industry standoff over sharing of bank customer data with aggregation sites; in the long term, they could transform how banking is done, making customer relationships less sticky but opening up new revenue models for financial institutions. This paper lays out the basic issues surrounding APIs.
The embattled crypto bank announced that it will reduce operations and move to preserve capital after losing its banking partner earlier this month.
Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.
A new chief risk officer was among the appointments announced Wednesday, as CEO Michael Rhodes began to put his imprint on Ally.
The Federal Reserve governor said the Supreme Court ruling could bring needed transparency and efficiency to regulatory policymaking.
Whoever is named SEC chair by the president-elect is likely to take a lighter hand on crypto, AI and "regulation by enforcement."
