American Banker

We are excited to announce this year's Most Influential Women in Payments! Click here to see the full list of honorees, covering industries including banking, processing, retail and more:

Barbara Nash of BNP Paribas told Mary Ellen Egan she is just getting started after nearly four decades in banking, in our American Banker series The Climb. Nash leads the TMT team that won our Top Teams award in our Most Powerful Women in Banking competition last year. Read more about her team: https://lnkd.in/eHQiEQvU

In this webinar we'll explore the latest advancements impacting TPRM, governance, risk, and technology. https://bit.ly/4byJCyK

TD's compliance missteps may lead to one of the most expensive anti-money laundering failures in the U.S. history. "Simply put, our anti-money laundering program did not deliver," said CEO Bharat Masrani in a memo to employees. In my latest for American Banker, I looked into how the bank's issues stack up in the industry:

The big buzzword in the banking-as-a-service middleware space is "direct." What does that mean and how must middleware providers adapt? Jonah Crane Kirsten Muetzel and Jason Henrichs helped me parse the question; Unit Treasury Prime and Synctera shared the changes they are making to comply with the wishes of their bank clients and regulators; and Braid and infinant Inc argued for a different definition of what it means to be "direct" in this space.

A senior CFPB official said the bureau is expanding its enforcement office by 75 people that will bring the enforcement office to a staff of 275 that includes a mix of attorneys, investigators, paralegals and economists.  “We are making really good progress on our hiring,” the senior CFPB official told reporters on a press call. “We’ll have more people joining in the coming days and expect to be continuing to hire in the months ahead.” American Banker reported on the CFPB's expansion last year. #bankingsector #enforcement https://lnkd.in/gjHH5YGy

Pima Federal Credit Union in Tucson plans to buy Republic Bank of Arizona in a cash transaction. It’s the ninth deal in 2024 in which a whole bank would sell itself to a credit union. https://lnkd.in/ersd8SnB

In this week's edition of the American Banker news quiz, gauge your understanding of topics like cybersecurity testing, the impact of high interest rates on community banks, FDIC Chairman Martin Gruenberg and more.

With charge-offs being a vexing problem for merchants and banks, Mastercard is partnering with Salesforce to use gen AI to fight the issue and compete with rival Visa, which uses similar AI to manage disputes.

Can payment dispute management get better? Mastercard and Visa are both using gen AI to combat the problem.