BAC

If we’ve learned one thing from years of hacks and phishing, it’s this: A username and a password alone aren’t strong enough to protect our most precious accounts. So why don’t our bank apps require us to pile on extra security settings? If we’ve learned one thing from years of hacks and phishing, it’s this: A username and a password alone aren’t strong enough to protect our most precious accounts. So why don’t our bank apps require us to pile on extra security settings?…

A lot of discussion right now is about the bonds that American banks hold. There should be more about the bonds they issue, too. For some, taking on more debt could have been helpful. One tidbit from lawmakers’ grilling of regulators should catch investors’ attention: a proposal to expand a requirement for issuing long-term debt. Today this debt requirement applies only to megabanks with over $700 billion in assets, the likes of JPMorgan Chase or…

When a payment app goes ding, we expect it’s somebody giving us money—or wanting money from us. It also could be someone we don’t want to hear from.Alexuis Baremore was asleep in her High Point, N.C., apartment early on Jan. 27 when Cash App’s coin-dropping alert woke her up. The 28-year-old slid her arm under her pillows to feel around for her phone, held it to her face…and then rolled her eyes. Her ex-boyfriend, whom she had blocked months earlier on social media and in her phone’s contact list, sent her $1 with just…

For much of the early part of 2023, the economy seemed to be humming along.Then the music stopped. In a span of less than two weeks, the financial world has turned on its head, leaving investors to contemplate whether the economic expansion is nearing its end. What began as a plight specific to one cryptocurrency-focused bank rapidly morphed into a crisis with economic, political and international repercussions. Silicon Valley Bank and Signature Bank collapsed just days after the shutdown of the crypto lender…

For more than a decade after the collapse of Lehman Brothers in 2008, Washington’s regulatory watchdogs sought to ensure that they would never again face fraught weekend deliberations about propping up the financial system from a bank failure.  For the nation’s top economic officials—Federal Reserve Chair Jerome Powell, Treasury Secretary Janet Yellen, Federal Deposit Insurance Corp. Chairman Martin Gruenberg…

Big banks are teaming up to launch a digital wallet that people can use to shop online. Wells Fargo WFC -1.29% & Co., Bank of America Corp. BAC 0.73% , JPMorgan Chase JPM 0.86% & Co. and four other banks are working on a new product that will allow shoppers to pay at merchants’ online checkout with a wallet that will be…

Image Source : PIXABAY Google Google's Account switcher is reportedly getting a Material You redesign on the web. The redesign features will come with rounded corners for all elements along with two main containers, reports 9To5Google. ALSO READ: Mivi Model E Review: Premium looking smartwatch with decent performance The one in the foreground has a larger profile…

The Federal Reserve is investigating Goldman Sachs Group Inc.’s GS -3.08% consumer business to determine whether the bank had appropriate safeguards in place as it ramped up lending, according to people familiar with the matter.  The regulator has concerns that the bank didn’t have proper monitoring and control systems inside the consumer business, known as Marcus, especially as it grew larger, the people said.  The Fed is…

Americans are missing out on billions of dollars in interest by keeping their savings at the biggest U.S. banks.The Federal Reserve has raised interest rates to their highest level since early 2008, just before a near failure of the financial system plunged the American economy into recession. Yet the biggest commercial banks are still paying peanuts to savers. In theory, savers could have earned $42 billion more in interest in the third quarter if they moved their money out of the five largest U.S. banks by deposits to…

WASHINGTON—The Federal Reserve’s new regulatory chief on Thursday signaled plans to beef up big-bank capital requirements, potentially revisiting financial rules that were eased during the Trump administration. Michael Barr, the Fed’s vice chairman for banking supervision, said that the central bank is still conducting a broad review of its capital requirements but suggested the overall requirements appeared to be lower than they ought to be.…