In an interview with American Banker following Circle's IPO debut, President Heath Tarbert discussed the stablecoin issuer's go-public timing, the importance of regulation and transparency and how the fintech sees itself working with banks.
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Both the Federal Reserve and the Office of the Comptroller of the Currency signed off on the $35 billion transaction, which has faced opposition since it was announced last February.
April 18
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The Federal Reserve proposed a rule to average individual banks' stress test results over two years, a measure the central bank says would reduce volatility in bank capital requirements from year to year.
April 18
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With swipe payments heading toward the exit in a few years, issuers have an opportunity now to prepare.
April 18
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A federal judge will determine if the leadership of the Consumer Financial Protection Bureau should be held in contempt after firing 90% of the bureau's staff and dismantling all offices.
April 18
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The Consumer Financial Protection Bureau is laying off more than 1,400 employees just days after a panel of judges said the bureau couldn't fire employees without an assessment of whether the workers are unnecessary to perform the bureau's legally mandated duties.
April 17
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The Ohio-based regional bank is poised to outperform in the second quarter after coming close to "hitting on all cylinders" during the first three months of the year, CEO Steve Steinour said.
April 17
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Marion and Polk Schools Credit Union announced plans to buy Lewis & Clark Bank in Oregon City; Citizens Financial Group tapped veteran McKinsey banker Azra Pravdic to join its executive committee; the Federal Reserve Board approved United Community Banks' merger with ANB; and more in this week's banking news roundup.
April 17
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.
Elon Musk's decision to step away from the Department of Government Efficiency has bankers in wait-and-see mode for what policy plays are next.
Large language models, bespoke hardware and embedded AI are attracting banks' tech dollars, experts say.
Richard Fairbank will receive the restricted stock units in recognition of his work related to the integration of Discover into Capital One, the company disclosed.
The U.S. economy added 139,000 jobs, a healthy clip that counters the president's calls for a rate cut to bolster the labor market.
Elon Musk's decision to step away from the Department of Government Efficiency has bankers in wait-and-see mode for what policy plays are next.
Large language models, bespoke hardware and embedded AI are attracting banks' tech dollars, experts say.
Richard Fairbank will receive the restricted stock units in recognition of his work related to the integration of Discover into Capital One, the company disclosed.
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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The banks have invested in gen AI and embedded finance, respectively.
August 12 -
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
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The Consumer Financial Protection Bureau and Townstone Financial, a Chicago mortgage lender that it sued in 2020, jointly asked a federal court to vacate a settlement, saying the case should never have been filed.
April 16
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The firing of National Credit Union Administration board members further erodes the political independence of bank regulators, experts say, in a way that could trickle up to the Federal Reserve.
April 16
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The Sweden-based payment firm, which recently delayed its IPO due to the trade war, will use Fiserv's Clover point of sale system as it looks to build a market in the U.S. Plus: Payoneer makes a deal in China and other news in this week's global payments roundup.
April 16
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In internal shakeup, the Office of the Comptroller of the Currency will unify supervision divisions, revive the Chief National Bank Examiner office, and elevate IT oversight as part of a broader streamlining push.
April 16
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Federal Reserve Chair Jerome Powell warned that actions that undermine the apparent stability of the U.S. economy could have lasting effects on its status as a global safe haven.
April 16
