Hacker News with Generative AI: Banking

Bank CEO: Retract your debanking piece? Me: No (kalzumeus.com)
Nathan McCauley, the CEO of Anchorage Labs, Inc. d/b/a Anchorage Digital, and a board member (and, on faith and belief, CEO) of a federally chartered bank, has requested a retraction of the piece Debanking (and Debunking?). He alleges inaccuracies, misleading statements, omission of key facts, and other improprieties.

Finance, Banking, Media, Censorship

282 points by feross 11 days ago | 75 comments

Why Banks May Be Hoping You're Not Paying Attention (nytimes.com)
They have no fiduciary duty in many cases and can profit from customers’ confusion. But where’s the line between unsavory and illegal?

Finance, Banking, Ethics, Consumer Rights

5 points by JumpCrisscross 15 days ago | 0 comments

It's Time to End the Bureaucrat's Secret Weapon: Debanking (coindesk.com)
"Debanking" has become a buzzword in Washington lately. The term refers to a controversial practice where crypto companies and other businesses have been cut off from banking services, allegedly due to pressure from federal regulators.

Cryptocurrency, Financial Regulation, Banking, Politics

10 points by kristianp 16 days ago | 4 comments

Barclays tells customers to contact food banks as IT disruption enters third day (news.sky.com)
Barclays has advised customers to contact food banks after a major IT glitch left some locked out of their accounts - with the disruption likely to continue today.

Banking, Technology, UK News, Food Banks

6 points by oldgradstudent 19 days ago | 0 comments

UK's Barclays Bank's online services hit by major technical outage (bbc.com)
Barclays customers are entering a third day of issues with payments and transactions as the bank struggles to fix ongoing technical issues.

Banking, Technology, UK, Outage

4 points by fork-bomber 19 days ago | 0 comments

Barclays bank hit by major IT outage on tax deadline day (bbc.co.uk)
Barclays bank is experiencing serious IT problems which are affecting its app and online banking, as well as payments in and out of accounts.

Banking, Technology, Finance, Business, UK

3 points by alt227 21 days ago | 0 comments

Barclays Bank goes down on payday (the-independent.com)
Barclays’ app and online banking appear to be down.

Banking, Technology, Business, Finance

7 points by alt227 21 days ago | 2 comments

More than 130 Lloyds, Halifax and Bank of Scotland branches to close (news.sky.com)
Lloyds Banking Group is to close a further 136 branches.

Finance, Banking, Business, United Kingdom

14 points by ksec 23 days ago | 3 comments

HSBC to exit parts of investment banking business in UK, US and Europe (ft.com)

Financial News, Banking, Investment Banking, UK, Europe

3 points by mobilio 24 days ago | 0 comments

No one is disrupting banks – at least not the big ones (popularfintech.com)
The largest U.S. banks just reported their fourth quarter and full-year 2024 results. And you know what? Banks are doing really well. This made me realize that, unfortunately, despite almost 30 years of trying, Fintech companies have not disrupted banks. At least, not the big ones.

Finance, Banking, Fintech

232 points by kazanins 26 days ago | 433 comments

Ask HN: Why are banks charging so many fees for accounts and cards? (ycombinator.com)
I'm trying to understand why banks still charge account fees and card fees, especially when they don't seem to make significant profits from them.

Finance, Banking, Business, Economics

61 points by Lopsii 27 days ago | 79 comments

FDIC sues 17 former Silicon Valley Bank executives over collapse (cnn.com)

Finance, Lawsuits, Banking

8 points by kristianp 35 days ago | 1 comments

FDIC sues 17 former Silicon Valley Bank executives over collapse (cnn.com)

Finance, Lawsuits, Banking

10 points by pseudolus 36 days ago | 0 comments

How Can a Major Bank Like Capital One Be Offline for 24 Hours? (nbcnews.com)
Capital One said an unspecified technical issue was hampering customer account access Thursday, as some users reported issues with direct deposits.

Banking, Technology, Outage, Customer Service

18 points by wierdstuff 36 days ago | 15 comments

AmEx to Pay $108.7M for Deceptive Marketing and "Dummy" Account Information (justice.gov)
The American Express Company (American Express), based in New York, New York, has agreed to pay a $108.7 million civil penalty to resolve allegations that it violated the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by deceptively marketing credit card and wire transfer products and by entering “dummy” Employer Identification Numbers in the credit card accounts of its affiliate bank.

Financial Crime, Lawsuits, Banking, Credit Cards

16 points by impish9208 36 days ago | 0 comments

CFPB sues Capital One for 'cheating' customers out over $2B in interest (cnbc.com)

Finance, Lawsuits, Consumer Protection, Banking

11 points by happysingle 38 days ago | 0 comments

Will FedACH process ACH payments on the National Day of Mourning, Jan 9, 2025? (moderntreasury.com)
On Thursday, January 9, 2025, the United States will observe a national day of mourning to honor the late President Jimmy Carter. While this is not a federal holiday, it has raised questions about business and banking operations.

Finance, Banking, Holidays, US Politics

22 points by mattmarcus 45 days ago | 2 comments

International Bank Note Society (theibns.org)
The International Bank Note Society (IBNS) announces that its voting membership has for the first time selected the Eastern Caribbean Central Bank to receive its annual prestigious “Bank Note of the Year Award” for 2023.

Awards, Banking, Currency, International Organizations

30 points by gone35 58 days ago | 7 comments

CFPB sues Chase, BofA, and Wells Fargo for allowing fraud to fester on Zelle (consumerfinance.gov)
Americans have lost hundreds of millions of dollars to fraud tied to payment network’s shoddy safeguards

Finance, Lawsuits, Fraud, Banking

46 points by impish9208 63 days ago | 6 comments

Private Credit Wants to Be the Bank (bloomberg.com)
One of the big stories of modern finance is the rise of narrow banking in the form of private credit.

Finance, Private Credit, Banking

6 points by ioblomov 64 days ago | 1 comments

Bank of North Dakota (wikipedia.org)
The Bank of North Dakota (BND) is a state-owned, state-run financial institution based in Bismarck, North Dakota.

Finance, Banking, North Dakota, State Government

63 points by popcalc 65 days ago | 35 comments

Office Property Meltdown Is Starting to Surface at Regional Banks (bloomberg.com)
Slumping office property values are rippling through US banks, with smaller lenders in particular ramping up the use of loan modifications in their commercial real estate books.

Real Estate, Banking, Finance, Economy, Regional Banking

11 points by petethomas 68 days ago | 1 comments

CFPB announces rule limiting bank overdraft fees (cnbc.com)

Finance, Consumer Protection, Banking

27 points by pseudolus 71 days ago | 3 comments

Ask HN: Why do banking apps care about your phone OS (ycombinator.com)
Many banking apps require a non rooted phone and up to date OS, but even those phones can run a browser which provides access to the bank website, often with more functionality than the app.

Mobile Security, Banking, Mobile Apps, User Experience

33 points by j-bos 74 days ago | 48 comments

FDIC's Redacted Pause Letters (ctfassets.net)

Banking, Finance, Regulation, Government

14 points by delichon 76 days ago | 4 comments

Yotta Bank and the Problem with Fintech (Patrick Boyle) [video] (youtube.com)

Fintech, Banking, Video, Criticism

62 points by mxschumacher 82 days ago | 61 comments

Synapse still can't find its money (bloomberg.com)
When you deposit money at a bank, you expect the bank to give it back to you.

Finance, Banking, Technology

35 points by ekpyrotic 88 days ago | 67 comments

FDIC accidentally reveals the Silicon Valley Bank depositors it bailed out (2023) (fortune.com)
When federal regulators stepped in to backstop all of Silicon Valley Bank’s deposits, they saved thousands of small tech startups and prevented what could have been a catastrophic blow to a sector that relied heavily on the lender.

Finance, Banking, Startups, 2023

39 points by tortilla 109 days ago | 17 comments

When banks call to verify your details how do you know the call is legitimate? (ycombinator.com)
I got a call from my bank claiming that they're discontinuing physical credit card statements and asking for my email to send statements via email. Then they proceeded to also ask for my date of birth and home address to "verify details" after making the unsolicited call. It felt off but the call came from within the bank.

Security, Banking, Identity Theft

15 points by blurr 121 days ago | 37 comments

Ask HN: Crappy website design seems more trustworthy? (ycombinator.com)
I visited my bank's website and it hit me. For some reason, their crappy website design appears as more trustworthy than other, sleeker designs of modern banks. Why is that?

Web Design, User Experience, Trust, Psychology, Banking

23 points by burglins 123 days ago | 23 comments