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The bank suffered its third breach in three years, this time by virtue of a vulnerability in Progress Software's file-transfer system. But Flagstar is only one of many such victims.
October 18 -
The Consumer Financial Protection Bureau's Section 1071 data collection rule challenge will likely not advance past President Joe Biden's desk, and Republicans don't have the votes to overturn his veto.
October 18 -
Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.
October 18 -
The two megabanks continue to shrink their branch networks, with BofA planning to close 20 locations and Wells recently shuttering 15. Both banks are also opening new branches in certain markets.
October 17 -
Executives of the $405 billion-asset bank say that they have completed 40% of a cost-cutting strategy begun earlier this year.
October 17 -
The movement of cash to money market funds from bank accounts will diminish lenders' ability to finance small and midsize firms, BlackRock Investment Institute said in a new paper. BlackRock and other money managers have spent much of this year readying to fill that void.
October 17 -
California-based Star One is sharing its experience with smaller banks and credit unions, in an effort to get more to offer the government-backed real-time payment rail.
October 16 -
Jane Fraser defended Citigroup's recently announced organizational overhaul and specific performance targets, saying the plan is different from prior restructurings because it's designed to fundamentally change how the company operates.
October 13 -
The Pittsburgh-based regional bank expects to save $325 million next year as it reduces its staff by 4%. Executives said the cuts are necessary because revenue has fallen amid a surge in interest rates and a decline in loan volumes.
October 13 -
The Biden administration's misguided attempt to protect the banking system from itself will reduce credit available to the Americans who need it most.
October 4