The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.

A threat that was probabilistic is now official. An Iranian military spokesperson warned of a "painful response" against U.S.-linked banks.

The bank is partnering with a French software company to upgrade its usage of the emerging forms of artificial intelligence. Plus, Ripple plans to buy a local payment company to secure a license in Australia, and more in American Banker's global payments and fintech roundup.

CEO René Jones told American Banker that private-credit firms are both partners and competitors. "Today, one of the concerns is that we don't have that full transparency, as much as we would like. And so we have to be cautious as we move in that direction," he said.

A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.

The 23rd annual ranking of women leaders in the banking industry.