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How banks' co-brand card relationships struggle - American Banker
WEBAug 29, 2024 · Capital One's multiyear co-branding relationship with Walmart also struggled due to alleged customer service issues, according to court documents. Capital One was the exclusive issuer of Walmart cards for several years before the partnership was severed, with a federal court ruling earlier this year that Walmart could terminate the connection.
Why banks are closing so many branches | American Banker
WEBFeb 27, 2024 · There were about 77,500 bank branches in the U.S. at the close of 2023, according to updated estimates from S&P Global. The trend was hastened by the social distancing measures enacted to combat coronavirus outbreaks in 2020 and 2021. Such measures brought branch traffic to a standstill and drove increased adoption of digital …
How a DOJ suit against Visa is a lifeline for bank tech sellers
WEBSep 24, 2024 · With federal regulators putting legal heat on Visa over payment practices such as debit card processing, companies that bundle payments with other technology for banks could be in line to benefit from the fallout.. The Department of Justice has sued Visa, contending the card brand has monopolized the American debit card industry by …
Where ATMs are finding relevance as cash fades
WEBAug 15, 2024 · These firms are chasing a shrinking market, at least in the U.S. The number of ATMs in the U.S. in June 2024 fell below 450,000, according to the Capital One Shopping Research Report. ATM numbers in the U.S. have fallen about 4% in the past five years, according to Capital One, which also notes the number of American consumers that use …
20 banks with the biggest commercial real estate loan portfolios
WEBJun 30, 2022 · The top five banks in our ranking had a combined commercial real estate portfolio of nearly half a billion dollars at the end of 2021. With several leaders growing by more than a third last year, others saw year-over-year increases of more than 120%. Scroll through to see which banks made the top 20 and how they fared in the 12 months …
How many credit unions acquired banks in 2024? - American Banker
WEBJul 26, 2024 · Hudson Valley Credit Union started the year in a big way. The $6.9 billion-asset credit union agreed to acquire Catskill Hudson Bank and its parent company Catskill Hudson Bancorp, the companies said in January. At $593 million of assets, Catskill Hudson Bank is much bigger than any bank acquired by a credit union last year. The merger is …
As SOFR gains favor, other benchmark rates face uncertain future
WEBJan 3, 2022 · The Secured Overnight Financing Rate, or SOFR, has taken an early lead partly because regulators see it as a stable interest-rate benchmark without the vulnerabilities of Libor.
Data breach, USAA lawsuit: Top banking news August 2024
WEBAug 30, 2024 · On Aug. 13, personal data broker National Public Data acknowledged a data breach that involves 2.7 billion pieces of personal information, including names, addresses and Social Security numbers, in one of the largest known data …
The biggest bank M&A deals of 2022 - American Banker
WEBDec 27, 2022 · Toronto-Dominion Bank said in February it would buy First Horizon Corp. in an all-cash, $13.4 billion deal that would create a top-six bank in the U.S. by assets. The Canadian company had been looking for a major M&A deal in the U.S. for about a year and found its target in the Memphis, Tennessee-based First Horizon. TD and First Horizon …