Presidential candidates seek out Wall Street support; Truist suffers a data breach
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Trump and Biden court Wall Street with very different visions: Bankers still mostly back Republicans, according to Federal Elections Commission data, but the Biden administration is centering its pitch for support on the economy, regulatory stability and promising higher taxes for the wealthy and corporations.
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IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.
Federal Reserve Chair Jerome Powell says crushing inflation is the most important thing the Fed can do to reduce costs in the housing market. Some economists and policy specialists say higher rates are not the only tool at its disposal.
The threat actor Sp1d3r posted an ad for the stolen data on Wednesday. Truist said the October breach is not related to a campaign by the same criminal group.
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The card network has developed a digital approach to delivering disbursements for disaster relief and other purposes via mobile devices, without requiring a separately downloaded app.