Banks want liability risk clarified in CFPB open banking rule
Banks are concerned about the lack of clarity regarding legal liability in the Consumer Financial Protection Bureau’s open banking rule, and fear that they will end up on the hook for data breaches or unauthorized transactions caused by a fintech or data provider.
Texas Capital cuts workforce, sells securities in push to meet 2025 goals
The Dallas company, which has been in transformation mode for three years, recently took a series of actions to try to meet the profitability targets it set for itself.
JPMorgan Chase said to be investigating TikTok check fraudsters
A company spokesperson said the company reviews fraud-related issues and refers them to law enforcement "as appropriate."
Massachusetts fines Morgan Stanley over trades by ex-First Republic CEO
Morgan Stanley will have to pay $2 million for failing to flag trading in First Republic Bank by its former CEO. The transactions happened in the lead-up to the regional bank's collapse.