The American Fintech Council (AFC) has announced the addition of Spring Labs as its newest member. Spring Labs, founded by experienced fintech entrepreneurs, focuses on using AI-driven technology to help financial institutions streamline operations and enhance productivity while maintaining high compliance standards. This membership aligns Spring Labs with other companies dedicated to creating a more transparent and efficient future for financial services.
The Electronic Payments Coalition (EPC) has issued a response to the recent antitrust suit filed by the U.S. Department of Justice against Visa. The statement, released by EPC Executive Chairman Richard Hunt, criticizes the government's approach towards payment networks.
Bank of America plans to open more than 165 new financial centers across 63 markets by the end of 2026. This includes nearly 40 centers set to open this year, in addition to over 100 centers opened in the last two years.
Barclays has announced the appointment of Antonio (Tony) Castañon as Chief Operating Officer for its US Consumer Bank and Barclays Bank Delaware. In this role, Castañon will manage the bank's consumer operations across the United States.
Ahead of a scheduled hearing with the full Securities and Exchange Commission (SEC), Republicans from the House Financial Services and Senate Banking, Housing, and Urban Affairs Committees have called on SEC Chair Gary Gensler to rescind Staff Accounting Bulletin (SAB) 121. The letter was led by Chairman Patrick McHenry (R-NC) and Senator Cynthia Lummis (R-WY).
The Defense Credit Union Council (DCUC) said that proposed federal credit card regulations could “jeopardize veterans financial security” and lead to increased credit card fraud risk.
The Association of Military Banks of America (AMBA) has announced the promotion of Andia Dinesen from Executive Vice President of Communications and Operations to Chief Operating Officer (COO). With AMBA’s increasing focus on growth, innovation, and strategic engagement, Dinesen’s enhanced responsibilities will include an emphasis on driving strategic execution and operational excellence of AMBA’s programs. She has been a significant contributor to the organization since she joined in 2013.
Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z (CUSIP No. 060505EM2), liquidation preference $25,000 per share (the “Preferred Stock”), and the corresponding depositary shares each representing a 1/25th interest in a share of the Preferred Stock (CUSIP No. 060505EL4) (the “Depositary Shares”).
On September 19, 2024, Oversight and Investigations Subcommittee Chairman Bill Huizenga (MI-04) led Republicans on the House floor as lawmakers debated H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act.
The U.S. House of Representatives has passed H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act, sponsored by Subcommittee Chairman Bill Huizenga (MI-04) of the Financial Services Committee’s Republican ESG Working Group.
Yesterday, former President Donald Trump addressed the economic challenges Americans have faced in recent years. He stated, "While working Americans catch up, we’re going to put a temporary cap on credit card interest rates. We’re going to cap it at around 10%. We can’t let them make 25 and 30%."
WASHINGTON D.C., September 19, 2024 – As part of its commitment to serve the financial needs of the Greater Washington, D.C. region and as the bank of choice for people with disabilities, Chase is opening its second branch with a unique focus on disability inclusion. The branch, located at 550 Morse St. NE, will be staffed by employees fluent in American Sign Language (ASL) and is situated just outside Gallaudet University, a global leader in education for Deaf and hard of hearing students.
WASHINGTON, DC—Sen. Roger Marshall (R-Kan.), according to a report in Punchbowl News, recorded an advocacy commercial paid for by the Merchant Payments Coalition, a DC trade group funded by the nation’s largest corporate mega-stores. In the ad, Sen. Marshall repeats the inaccurate claims MPC and other supporters of the Durbin-Marshall Credit Card Bill have made in their lobbying efforts on Capitol Hill.
The American Fintech Council (AFC), an industry association representing responsible fintech companies and innovative banks, announced today that MANTL has joined as its newest member. Founded in 2016, MANTL provides account origination software for banks and credit unions nationwide, aiming to bridge the gap between online and in-person services. This allows financial institutions to optimize customer experience and increase operational efficiency. By joining AFC, MANTL aligns itself with other companies driving the future of customer-first banking.
Washington, D.C. — Bank Policy Institute President and CEO Greg Baer issued a statement in response to the OCC’s and FDIC’s policy changes on bank mergers and acquisitions (M&A), which were finalized today.
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), joined House Majority Whip Tom Emmer (MN-06) in sending a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler. The Congressmen are seeking clarity on the regulatory classification of digital asset airdrops.
Bank of America Corporation announced today that its Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of several series of preferred stock for the fourth quarter of 2024.