Banker's Digest

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FedNow Payments System Poised to Increase Transaction Speeds

FedNow Payments System Poised to Increase Transaction Speeds

The instant functionality of digital payments is now an application away for 10,000+ US banks and credit unions.

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Interest-Bearing Accounts For Cannabis Companies Now A Reality

Interest-Bearing Accounts For Cannabis Companies Now A Reality

Cannabis companies can open interest-bearing accounts with Safe Harbor Financial, a move some say was long overdue.

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House May Vote on SAFE Banking Act This July

House May Vote on SAFE Banking Act This July

The Cannabis-focused banking act would expand marijuana-industry protections, but controversy abounds.

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All 23 Major Banks Survive Fed's $541B Stress Test

All 23 Major Banks Survive Fed's $541B Stress Test

Even "exploratory market shocks" wouldn't topple 8 major US banks.

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Bigger Players Are Entering the Cryptocurrency Space

Bigger Players Are Entering the Cryptocurrency Space

Traditional banking's interest in digital currency may reduce regulatory scrutiny, improving conditions for innovation among small crypto companies.

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Technological Advancement Results in 5,000 Jobs Cut at CitiBank

Technological Advancement Results in 5,000 Jobs Cut at CitiBank

Apps to finally reach the unbanked and screen-scraping replacements indicate more tech transformation in the financial sector.

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ESG Regulations in Florida May Influence Climate First Bank's Departure

ESG Regulations in Florida May Influence Climate First Bank's Departure

Customer service chatbots may be more trouble than they're worth & CU buys a bank in the 4th such tie-up of 2023

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First Republic Branch Closures & OneMain Pays $20M in Fines

First Republic Branch Closures & OneMain Pays $20M in Fines

21 branches of FirstRepublic Bank will close in 2023, accounting for a quarter of all branches.

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TD Plans to Expand, Citi Focuses on an IPO, and Credit Unions Salute Veterans this Memorial Day

TD Plans to Expand, Citi Focuses on an IPO, and Credit Unions Salute Veterans this Memorial Day

Higher interest rates have both helped and hindered commercial banking and fintechs alike.

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Credit Union Youngsters Save Over $15M

Credit Union Youngsters Save Over $15M

During National Credit Union Youth Month, young members embraced the theme of saving, resulting in total deposits of $15M.

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ChatGPT Enters Banking Space

ChatGPT Enters Banking Space

New tech will allow customers to search for transactions, offers and products on the platform’s finance marketplace

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Capital One Fights Fraud with AI

Capital One Fights Fraud with AI

Capital One bank has implemented a more ‘democratic’ access paradigm to machine learning (ML) technology.