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The Social Security Administration announced Wednesday that Social Security benefits will get a 3.6% boost in 2027, after a year of hotter-than-expected inflation. It’s a sharp increase from the 2.8% adjustment beneficiaries received for 2026 and the largest bump since 2023, when benefits rose 8.7%. Even so, senior advocates are warning that it is too…
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Correspondent and Wholesale, CLE, Audit, Free POS Products; News From Chicago; MBA Chair Owen Lee Interview What percentage of the industry is shifting credit policies? Yesterday the industry learned that Fairway Independent and Movement are “now implementing VantageScore 4.0 (owned by Experian, Equifax, and TransUnion)… The VantageScore 4.0 credit scoring model is offered…
Key insight: Federal Deposit Insurance Corp. Chair Travis Hill said Wednesday morning that the agency is still thinking through certain regulatory implications of wider adoption of tokenized deposits. What’s at stake: Banks are used to standard hours for processing transactions, but stablecoins settle 24 hours a day, which could create some problems. Expert Quote: “If…
At State Street, Vollert will join the board technology and operations committee and the risk committee. Credit: JHVEPhoto/ Shutterstock.com. US asset manager State Street has appointed Alexander Vollert to its board of directors. Vollert has worked in global financial services for more than two decades, covering technology, operations, and large-scale transformation, as per the firm. …
Takeaway: A higher-than-expected inflation report puts the odds of a rate hike in two weeks at 50/50. Rates will give back some of last week’s improvements. Both overall and core inflation–which excludes food and energy prices–jumped in September more than expected. Overall inflation for September came in at 0.65% monthly (vs. 0.58% expected and 0.40%…
The Fed admits it can’t cool Big Tech’s spending spree. Tehran says it can, and it just named the targets.
Barclays would be able to seek underwriting mandates for initial public offerings. Credit: sdx15/ Shutterstock.com. Barclays is repotedly planning to resume its equity capital market operations in India after an absence of almost 10 years. The move would restore a product to the bank’s wholesale banking business, Barclays India CEO Pramod Kumar said at the…
Capital.com has agreed to acquire the client book of FxPro’s Cyprus entity, meaning the customer accounts the broker holds there, and only clients who pass Capital.com’s checks will move, according to Finance Magnates and FX News Group. Finance Magnates reported the sale in an exclusive on 14 October, and FX News Group reported that neither…
Mastercard increased total patent output and pushed into frontier technologies such as AI agents and quantum resistance, whereas Visa’s publication volume contracted 18.4%. Credit: Shutterstock Patent publications fell 14.1% in the 10 months to July 2026 against the same period a year earlier, counted by publication date to keep the comparison like for like. The…