Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
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Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.
June 16
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The bank, which has spent years building an advanced data sharing system, says market forces will drive the project more than political support.
June 16
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Opposition is growing to the Trump administration's efforts to roll back fair lending requirements for lenders imposed by Biden-era prosecutors.
June 16
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The 3.5% excise tax proposed in President Trump's One Big Beautiful Bill comes with wide-ranging implications for financial institutions engaged in money transmission services.
June 16
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The retail giants are kicking the tires on their own currencies. The potential prize is a way to reimagine prepaid cards and gain a key position as new forms of artificial intelligence-powered payments take off.
June 13
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
Growing loans was a tall order in 2024, but banks that could do just that were able to outperform their peers.
Seven of the 20 top-performing banks with $2 billion to $10 billion of assets last year were based in Texas. But it's not about being bigger.
U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.
The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.
U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.
The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.
Bankers are concerned about stablecoins gaining traction due to the passage of the GENIUS Act, and also continue to sound the alarm about the failure to resolve check fraud disputes, according to the latest quarterly survey from IntraFi.
Pulaski Savings Bank's failure will cost the FDIC's Deposit Insurance Fund 57.6% of its total assets.
The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
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John Buran shares how his New York bank and its small business customers are faring with tariff uncertainty — and how some have quickly changed suppliers and modified business plans — in the latest American Banker podcast.
July 15 -
Staking activities and stablecoins are two of the possible ways banks could have a role in decentralized finance, said Margaret Butler, head of the financial services practice at the law firm BakerHostetler and Kristiane Koontz, director of Treasury Services and Payments at Zions Bank, in interviews recorded at the Digital Banking Conference in June.
July 1
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Senate Republicans plan to modify the massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax.
June 17
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In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.
June 17
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Illinois Gov. J.B. Pritzker, a Democrat, signed a bill that delays the implementation of the interchange law for a year while banks fight it in court.
June 17
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The company also launched a similarly priced version for businesses as part of an overhaul marking JPMorgan's latest volley in the ultra-competitive world of premium credit cards.
June 17
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As the Senate stands poised to pass a landmark bill establishing rules for stablecoin issuers, a provision allowing state-chartered uninsured banks to operate in states without prior approval is drawing concern from observers and opposition from state regulators.
June 17
