Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed "skinny" master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.
In mid-2015, several thousand banks registered for dot-bank domains. More than two years later, only a few hundred have converted.
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The Senate's passage of stablecoin legislation marks a leap forward for the potential mainstreaming of cryptocurrencies that track the U.S. dollar, but there are still problems to solve before banks and businesses can capitalize on the opportunities.
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The legislation has been able to garner a level of bipartisan support that was not possible in previous Congresses because of a lack of support from Democratic lawmakers, but many of those benefited from crypto industry contributions in the 2024 election cycle.
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Early Warning Services is teaming up with Fiserv to quickly drive uptake for its new Paze digital wallet with merchants and credit card issuers outside of its owner banks. Paze partnered with Worldpay earlier this month to unlock a similar distribution channel.
How New York became Wells Fargo's new center of power; banks walk fine line in preparing for a coronavirus outbreak in U.S.; bankers on Bernie's electoral chances and whether a Sanders presidency would pose a threat; and more from this week's most-read stories.
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JPM exec shuffle, U.S. Bank’s first digital chief, CFPB and debt collection: Top stories of the weekWhether JPMorgan tipped its hand on a succession plan; U.S. Bank hires its first chief digital officer; all eyes on CFPB as it modernizes its debt collection rules; and more from this week’s most-read stories.
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In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education.
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Bank of New York Mellon's clients shifted more of their deposits to higher-rate products. It was one of several trends that hurt the custody bank's bottom line.
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The Mortgage Bankers Association forecast comes as bankers continue keeping an eye on their commercial real estate portfolios, including office buildings. The MBA also noted that many companies have long-term leases on their offices, likely making the hit more gradual.
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The 15-year average crossed the 5% threshold for the first time in over a decade.
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Frustrations with gatekeeping, a lack of diversity and the way home appraisal is overseen are spurring many practitioners to call for an overhaul of the industry's governance structure.
The impact of President Trump's tariffs is the top concern for most middle-market American businesses, a new KeyBank survey found. But these firms also view the scrambled landscape as a chance to innovate and restructure.
In a new survey, 28.4% of community banks said that regulation represented an "extremely important" risk, down from 44.1% last year.
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The next administration should bring in new, tech-savvy leaders at bank regulatory agencies and give them the ability to rethink oversight in a way that reflects the technological innovations transforming the banking industry.
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Banks' compliance teams have often been the source of innovative technologies with applications far beyond financial services. That is likely to hold true with artificial intelligence-related compliance solutions.
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With two excellent real-time payments rails now available in the U.S., enabling QR code transactions is essential. The financial services industry needs to come together and establish uniform standards.
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Pulte says a GSE stock offering remains likely in 2026, but other policy paths are in play. NMN survey data shows the industry expects broader changes first.
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Federal Reserve Gov. Stephen Miran, who had been on a leave of absence from his position as Chair of the White House Council of Economic Advisers since he was confirmed to the central bank in September, resigned his CEA role Tuesday to uphold his promise to resign his White House role if he remained past the expiration of his term, which concluded Jan. 31.
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The Spanish banking giant, which has been trying to grow its U.S. business, plans to acquire the Connecticut-based parent company of Webster Bank.
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The crypto and payment fintechs both debuted on the stock market in late January with strong openings, then traded down ahead of a four-day partial government shutdown.
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At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.
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Prosecutors claim the Forbes 30 Under 30 honoree maintained two sets of books to hide Kalder's actual revenue of just $60,000.
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Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
Fidelity Digital Assets, the national crypto trust bank subsidiary of Fidelity Investments, is set to launch a dollar-backed stablecoin on ethereum.
The 23rd annual ranking of women leaders in the banking industry.
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