Financial News
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Small businesses feel the pain of higher interest rates
Some 54% of small businesses said in a recent survey that elevated rates had led to higher debt payments. And…
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A simple fix could boost bank backing for small-business equity funds
Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction…
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Chopra: ‘Insular’ Appraisal Foundation unlikely to address bias
The head of the Consumer Financial Protection Bureau summarized his findings from a year-long probe into the Appraisal Foundation. He…
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A third of banks ban employees from using gen AI. Here’s why.
Bankers worry about false information, job losses and diminishing skills and human interaction, among other concerns about deploying both generative…
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Nasdaq premarket glitch that lasted three hours is resolved
Orders on the NASDAQ exchange were unable to execute early Monday morning because of an error with the exchange’s price…
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What does the future hold for social media-powered payments?
Despite fresh waves of online fraud and scams, czars of social media platforms, peer-to-peer networks and blockchain products have renewed…
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Goldman veteran leaves for Cloudflare after consumer banking flop
Stephanie Cohen’s exit adds to the dwindling ranks of senior women at the firm as Chief Executive Officer David Solomon…
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The Supreme Court should confirm limits on the OCC’s preemption powers
Increased federalization of the U.S. banking industry would be a disservice to consumers and the economy. The court must act…
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Goldman closes GreenSky sale, and Synovus sees an edge
Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying…
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Regulators are taking on nonbanks — a little bit at a time
As nonbank entities expand their market share in many traditional banking services and are increasingly intertwined in the banking system,…
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Why bank consolidation is down but not out
Bank mergers and acquisitions have slowed in recent years amid recession fears and other economic uncertainties. But bank consolidation is…
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Judge recuses himself in lawsuit over CFPB’s $8 credit card late fees
A Texas judge has recused himself from a case that pits the largest credit card issuers against the Consumer Financial…
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Bill to ban TikTok could have mixed results for banks
Proposed legislation to force Bytedance to sell its U.S. operations of TikTok raises national security concerns and potential retaliation from…
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PNC promotes Michael Thomas; Huntington hires JPMorgan’s Sarah Pohmer
PNC announces a new head of corporate and institutional banking; Huntington hires JPMorgan exec to lead HR; former HSBC banker…
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Wilmington Trust’s Doris Meister on a career in wealth management: The Climb
Meister, chair and CEO of the M&T division, considers herself a “builder-fixer” and has sought out new challenges and opportunities…
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