Banks vs. high-risk payments, GS + checking, CFPB and New York State vs. MoneyGram
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Banks may not understand the risks they're taking in payments, Goldman Sachs launches its new checking account to employees, and 7 big banking-exec moves so far this year: here's what we're covering today at American Banker.
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Financial institutions may be overestimating their risk exposure around online gaming yet are also unaware that certain benign-sounding merchants are fronts for illegal operations, including Russian oligarchs, according to payment risk experts who spoke at the Electronic Transactions Association’s recent annual meeting in Las Vegas.
In advance of a broad U.S. launch later this year, the $1.6 trillion-asset bank made the account available this week to its more than 20,000 U.S. employees.
In the top echelons of the banking industry, the first quarter of 2022 has already seen several senior leaders advance their careers with high-level moves.
Credit unions are having to keep up with shifting consumer expectations, shaped by the latest offerings from digital challengers. Their previous technology priorities, such as mobile wallets and digital account openings, have become must-haves, forcing them to look to new services to remain competitive.
The CFPB and Attorney General Letitia James on Thursday sued the Dallas-based remittance provider for engaging in unfair acts or practices for failing to transfer funds, delaying refunds to customers and a slew of other violations.
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The $317 million-asset Noah Bank said Thursday that it had received a buyout offer from NMB Financial Corp., the $541 million-asset parent of New Millennium Bank in Fort Lee, New Jersey.
Synovus Financial is warning of potential challenges in its small-business loan portfolio as increasing costs and lingering supply-chain issues may cause borrowers to fall behind on their payments.
The Office of the Comptroller of the Currency has issued an enforcement action against Anchorage Digital for inadequate anti-money-laundering controls.
CommonWealth Central Credit Union in San Jose, California, has tapped Viktoria Earle to become its next president and CEO.
Wells Fargo traded barbs with attorneys for plaintiffs in a discrimination suit against the bank, rebuking a new accusation of racism stemming from a procedural move.
After KeyCorp stopped providing prepaid cards to unemployment benefit recipients in Illinois, the company’s fee income from cards and payment services tumbled during the first quarter.
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