Mike Goosay, Chief Investment Officer of Global Fixed Income at Principal Asset Management, breaks down the Federal Open Market Committee meeting, Chair Powell's press conference and the SEP.
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Agencies must now provide clearer justifications for their interpretations, while Congress needs to draft more precise legislation. The decision could empower banks to challenge agency rules more frequently and potentially prolong regulatory processes, with courts giving less deference to agency interpretations.
September 19
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A huge amount of money has flowed into the election from cryptocurrency interests, setting up a different financial policy scene, including for bankers, next year.
September 19
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In a new lawsuit, a former BMO employee says he was fired because he reported his concern that the bank was intentionally charging too much to clients who used a foreign-exchange product. BMO denies the allegations.
September 18
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As Silvergate Capital filed for Chapter 11 bankruptcy protection, an executive said the company's crypto-friendly bank went down last year because regulators soured on its business model.
September 18
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The Federal Reserve chair said he supports the revised proposal outlined by Vice Chair for Supervision Michael Barr and said the new proposal would get a vote by the full Board of Governors early next year.
September 18
Big banks with the strongest financial performance varied in asset size, geographies and services.
Each of the top-performing banks with more than $50 billion of assets used their own mix of revenue streams to drive performance.
Among banks with between $10 billion and $50 billion of assets, those that targeted narrow lending markets rose to the top.
U.S. District Judge Amy Berman Jackson agreed to temporarily block the Trump administration from firing more CPFB employees and said the White House could not delete or destroy any of the bureau's data or databases.
Sean Desmond, the new CEO of nCino, hinted at some of the products under development in an interview with American Banker.
Federal Reserve Chair Jerome Powell said reserve banks will no longer factor "reputational risk" into master account decisions. The crypto industry is encouraged by the commitment, but says more changes are needed.
Mike Goosay, Chief Investment Officer of Global Fixed Income at Principal Asset Management, breaks down the Federal Open Market Committee meeting, Chair Powell's press conference and the SEP.
U.S. District Judge Amy Berman Jackson agreed to temporarily block the Trump administration from firing more CPFB employees and said the White House could not delete or destroy any of the bureau's data or databases.
Sean Desmond, the new CEO of nCino, hinted at some of the products under development in an interview with American Banker.
Federal Reserve Chair Jerome Powell said reserve banks will no longer factor "reputational risk" into master account decisions. The crypto industry is encouraged by the commitment, but says more changes are needed.
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.
- Crypto-as-a-service, stablecoins and tokenized deposits all present opportunities for banks, according to Nathan McCauley, co-founder and CEO of Anchorage Digital.Sponsored by IntraFi
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The banks have invested in gen AI and embedded finance, respectively.
August 12
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Ally customers are blaming the bank for data breaches at its vendors, arguing that basic cybersecurity measures would have prevented the thefts.
September 20
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This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she's seen didn't convince her of the need to cut rates as much as her fellow governors thought.
September 20
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Liberty Capital Bancshares in Texas agreed to acquire in-state peer Southwestern Bancorp; BNY announced it will buy managed-account software company Archer; Louisiana is supporting crypto but pushing back on CBDCs; and more in this week's banking news roundup.
September 20
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By enabling instant settlement for bank payments at checkout, the retailer is adding speed to an option that reduces card transaction fees. But getting consumer buy-in may be a challenge.
September 20
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Warnings, finger pointing, and political infighting have consumed talks around a continuing resolution, but the details of the upcoming funding package are expected to be ironed out over the weekend for a likely vote early next week.
September 20
