CFPB faults non-profit hospitals, landlords in report on consumer debt
The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.
Survey: SMB lending fraud on the rise
A survey of 135 financial services companies conducted by LexisNexis Risk Solutions, a subsidiary of LexisNexis, found that a vast majority reported increased levels of fraud in 2023.
Utah bank uses gen AI to watch for emerging problems at fintech partners
First Electronic Bank is using technology from Spring Labs to analyze its fintech partners' customer communications and identify problems.
Global bank earnings: TD Bank’s AML provisions, BMO’s loan challenge
Between TD Bank's $3 billion anti-money-laundering hurdle and BMO Financial Group's increased provisions for loan losses, here are the earnings highlights for non-U.S. banks.
Harris pushes 28% capital gains tax rate on millionaires
The increase would "ensure that the wealthy and big corporations pay their fair share" at a level that also "rewards investment in America's innovators, founders and small businesses," Harris said.
Banks’ Q2 profits rise to $71.5B despite lending headwinds
Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.
ConnectOne to expand on Long Island with $284 million acquisition
The deal to buy The First of Long Island Corp. would create a $14 billion-asset bank with $11 billion of both loans and deposits.
CIBC shuffles leaders again as Hountalas moves to vice chair
Canadian Imperial Bank of Commerce is planning its second executive shuffle in six months, which the CEO says is part of its routine talent-management process.
Kamala Harris has an opportunity to make crypto better for consumers
The Democratic nominee should seize the moment and reset her party's relationship with the crypto industry, focusing on safety, equity and access to financial services.
New Mountain merger to create $3 billion medical payments company
New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans' payments to doctors and hospitals.