NEW YORK—CEO pay across the banking sector climbed sharply in 2024, with nearly every chief executive in a new Compensation Advisory Partners analysis receiving higher total compensation than the year before, as boards rewarded stronger earnings, rebounding bonuses and improved shareholder returns following the regional banking turmoil of 2023.
COSTA MESA, Calif.—Experian said it has launched what it is calling a first-of-its-kind framework designed to bring identity verification and accountability to AI-driven transactions, as companies across payments and commerce race to address trust risks tied to autonomous AI agents.
MCLEAN, Va.--The 30-year fixed-rate mortgage averaged 6.51% this past week, Freddie Mac reported.
SHANGHAI—JPMorgan Chase CEO Jamie Dimon said the bank expects artificial intelligence to reshape its workforce over time, potentially leading the company to hire more AI specialists and fewer traditional bankers in some roles, according to reporting by PYMNTS.
WASHINGTON—The Federal Reserve has moved closer to opening its payment infrastructure to financial technology and crypto firms, advancing a proposal for a new type of limited “payment account” that would allow eligible nontraditional financial institutions to directly access certain Fed payment rails without receiving the full privileges available to banks, Reuters reported.
WASHINGTON--Tuesday’s primaries across six states saw nearly every credit union-backed candidate prevail, America's Credit Unions reported.
WASHINGTON--Modernizing and improving the efficacy of the Bank Secrecy Act (BSA) and other laws would enhance consumer safety while providing needed regulatory relief for consumers America’s Credit Unions told Congress.
BUFFALO, N.Y.—Federal prosecutors in New York have charged six people in what authorities allege was a nationwide fraud scheme that stole more than $1.3 million from banks and credit unions using stolen federal tax refund checks and fake identification documents.
NEW YORK—The availability of buy now, pay later and merchant-offered installment plans is increasingly influencing where consumers choose to shop, book travel, seek healthcare and even buy groceries, with younger consumers and heavy pay later users showing the strongest response, according to new research from PYMNTS Intelligence.
ATLANTA—Federal Reserve Gov. Michael Barr said financial institutions should move beyond simply expanding access to accounts and focus more directly on whether products are improving consumers’ financial health.
