#banking-industry

#banking-industry

Apple's strength in software enables it to challenge traditional banks through the Apple Card.

Incumbent banks see Apple Card as a means to attract affluent customers.

Bipartisan senators propose a bill capping credit card interest rates at 10%, addressing high rates that burden consumers.

Frauds exploiting romance scams are on the rise, leading to significant financial losses for individuals, particularly during and after the pandemic.

TD Bank paid $3 billion in fines for money laundering violations, marking the largest penalty for such offenses in U.S. banking history.

JPMorgan Chase is prioritizing the well-being of junior bankers by introducing a dedicated role to address burnout and work culture concerns.

Customer onboarding is essential for trust and long-term relationships in banking.

Inefficient onboarding processes significantly deter potential customers and cause revenue losses.

Digital onboarding enhances customer engagement and streamlines the onboarding experience.

Ransomware attack disrupted over 200 Indian Co-Op Banks through a breach on a service provider's end.

John Hummel appointed to lead U.S. Bank's East market for retail home lending.

Wall Street banks are gearing up for earnings season, with a focus on updates on important matters like Jamie Dimon's retirement and banks' AI adoption.

M&T Bank stood out as a top performer in the Federal Reserve's stress test, earning praise for its underwriting quality, capital, and net interest margins.