There's no designated lender of last resort for nonbank stablecoin issuers in either the recently-passed stablecoin bill or the crypto market structure bill being considered, which experts say could mean bailouts down the road.
As community banks need to make their budgets stretch further, some are looking to vendor consolidation as a way to gain a competitive edge through fewer IT headaches and a more uniform customer experience.
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With countless fintechs nipping at its heels, the bank is working harder to be a one-stop shop for e-commerce, retail store management, payments and authentication.
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French payments company Worldline may cut 8% of its workforce, Moneygram advances its digital strategy by hiring four new leaders, Fed issues enforcement action against Peoples-Marion Bancorp and more in our weekly banking news roundup.
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The city's pilot program enables asylum seekers to pay for food and baby products — reducing government overhead while introducing newcomers to the local economy.
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
PeoplesBank and Cornerstone Bank entered into an agreement to combine their holding companies in a deal slated to close early in 2025. The banks would continue to operate separately.
The superregional in Pittsburgh said banks large enough to attract its attention have yet to put themselves on the sale block. PNC's finance chief said, "We just have to be ready if and when those windows open."
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Bank regulators are considering a measure that would rewrite the rules implementing the Community Reinvestment Act. They should consider taking their existing rules seriously.
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Small-business owners need all the savings they can get, but the proposed legislation will ultimately cost consumers and entrepreneurs.
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Scams and fraud on real-time payment platforms are well documented. To solve the problem regulators, lawmakers and the public must acknowledge the inherent risks that come with a powerful new technology and develop rules to make it safer.
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Starting Tuesday, the Spanish bank is allowing retail clients in Germany to trade Bitcoin, Ether, Litecoin, Polygon and Cardano. Openbank will expand the number of available tokens over the coming months.
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The payment company has made a series of moves to bolster its stablecoin and other coins to build a market for digital assets. Its Links feature adds to the strategy.
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Google has launched its Agent Payments Protocol, an open protocol that establishes a payment-agnostic framework for users, merchants and payments in agentic AI. Payment companies such as Adyen, American Express, Mastercard and PayPal helped develop the protocol.
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Prosecutors say Daryl Heller lured 2,700 investors with promises of safe ATM profits but misappropriated $185 million.
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The companies have signed a new data-sharing agreement that includes an undisclosed pricing structure. Plaid said it will not pass the new costs on to its clients.
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A group of Democratic Senators led by Elizabeth Warren, D-Mass., urged regulators to keep the 2023 Community Reinvestment Act overhaul, saying the rule was carefully crafted with bipartisan input.
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During Thursday's earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.
The agency's approval of the stablecoin-focused Erebor will be the first of many applications to open new banks, many focused on nontraditional elements of the business.
The 23rd annual ranking of women leaders in the banking industry.
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