Fri.Dec 13, 2024

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The open banking rule helps consumers. Why are banks against it?

American Banker

An industry lawsuit seeks to undermine a rule put forward by the Consumer Financial Protection Bureau that would make it much easier for consumers to manage their own financial health.

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Financial Checkup Guide: Close the Year with Clear Goals

Ublocal

Year-End Financial Checkup: Are You on Track? The end of the year isnt just made for celebrations, its a time to take a look at your finances and see where you stand. We dont just mean a quick glance at your savings and checking accounts, a financial review means assessing your financial progress and setting goals for the new year. Why Budget Reviews Matter A budget review means taking a close look at your income and spending over the past year.

Taxes 40
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Consumers' debt struggles are easing as holiday spending ramps up

American Banker

The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. "For 2025, we're seeing a lot of stability in delinquencies," an industry researcher said.

Cards 60
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Maximizing AI Payoff in Banking Will Demand Enterprise-Level Rewiring

The Financial Brand

This article Maximizing AI Payoff in Banking Will Demand Enterprise-Level Rewiring appeared first on The Financial Brand. Adopting AI in little bite-size chunks only produces bite-sized results, says McKinsey. Is it time for banks to go "all in"? This article Maximizing AI Payoff in Banking Will Demand Enterprise-Level Rewiring appeared first on The Financial Brand.

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Outsource With Confidence for RDC Program Success

Remote Deposit Capture (RDC) clients are more likely to use additional treasury services and maintain larger deposits. However, poor customer experiences—particularly if they delay deposits—can compel RDC clients to take their business elsewhere. This eBook makes the case for outsourcing RDC operations to a proven managed services partner. This approach helps Treasury Departments with limited resources provide excellent client experiences that result in higher retention and productivity rates.

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Dime in NY takes $43 million hit to unload underperforming securities

American Banker

The bank said it redeployed proceeds from the sale into high-yielding investments. It also said it would end an employee pension plan to curb expenses.

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BNPL lender Affirm inks fresh forward-flow deal with Sixth Street

American Banker

Affirm partners with Sixth Street to sell its buy now/pay later loans to the investment firm; Associated Banc-Corp promotes Steven Zandpour to deputy head of consumer and business banking; Visa Direct speeds up its money transfers; and more in this week's banking news roundup.

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Elder abuse, AI deepfakes and TikToks: 2024's fraud trends

American Banker

From mail theft to video games, a variety of trends shaped scams and fraud in 2024 and made the schemes more expensive for everyone.

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Carver directors win re-election after controversial vote

American Banker

A close result was complicated by an hour-long adjournment of the New York-based company's annual meeting that angered dissident investors and left them mulling legal action.

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Flushing Financial's $70 million capital raise prompts sell-off in shares

American Banker

The Long Island bank is the latest financial institution to use new equity to restructure its balance sheet and unload low-yielding assets. Its stock price tumbled after the shares were priced at a considerable discount.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Trump wants to streamline bank regulation. Here's how he should do it.

American Banker

We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system that has grown increasingly unwieldy over generations.

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Conservative court's ruling is an omen about DEI under Trump

American Banker

Banks will feel the fallout from a court's decision to strike down a Nasdaq rule that would have mandated more disclosure about the racial and gender composition of corporate boards.