Noelle Acheson argues that growing demand for dollar-denominated stablecoins is going to give the Treasury Department increasing influence over the direction of the U.S. economy, perhaps at the cost of the Federal Reserve.
Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.
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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.
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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.
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Paula Comings, the head of currency sales for U.S. Bancorp, said American importers are hearing from their foreign counterparties that they no longer want to be paid in U.S. currency.

Newcomers Nymbus, Neocova, Finxact and Technisys and older competitors like Temenos, Infosys and Oracle are winning over community and regional banks by offering what some bankers describe as more flexible technology at fairer prices.
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The company could use its share of proceeds from the IPO to repay debt and pursue bank acquisitions.
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The technology provider to financial advisers is partnering with Advisor Credit Exchange to help them connect their clients with banks and nonbanks for consumer and business loans.
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The lawmakers are questioning the agency about its oversight of student loan servicers involved in a federal loan forgiveness program.
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Bank lending activity grew at a strong clip in the second quarter and continues to expand. Yet rising interest rates and recession concerns could hamper future growth.
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Farmers Bank plans to develop new revenue from home loans, despite seeing many bigger lenders flee the same market.
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The rating agency has revised the long-term issuer default rating for PacWest Bancorp and its banking subsidiary, Pacific Western Bank, from "BBB" to "BBB-" and says it doesn't expect the bank's common equity Tier 1 ratio to bounce back anytime soon.
When a Chicago bank crashed, delivering a major blow to the Deposit Insurance Fund, regulators said they suspected fraud. Historically, that's a common story.
Jennifer Taylor at Citibank and Jodi Richard at U.S. Bank are driving a rethinking of how to tackle the risks banks face using technology.
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Two former comptrollers of the currency argue that state-level efforts to regulate nationally chartered banks fly in the face of both the law and good sense, threatening to take the country back to the era of "wildcat" banking.
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Banks reporting their energy supply ratios, which compare rates of lending to fossil fuel projects and clean energy projects, should be required to do so in a way that allows easy comparisons across institutions.
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There is a tendency to assume that banks carrying a large commercial real estate loan portfolio need to diversify. But that ignores the fact that many of those institutions have much deeper knowledge of the market than their critics.
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The Arkansas-based company pivoted to organic growth a few years ago, after making 14 bank acquisitions in less than a decade.
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The combination of the banks is the latest in a trend of deals closing on speedier timelines, and signals the industry's hunt for scale.
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When the Swiss banking giant bought rival Credit Suisse in 2023, it inherited an investigation over money the Nazis looted from European Jews. The issue now seems to be coming to a head in Washington.
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The Chicago-based, $261 million-asset Metropolitan Capital Bank & Trust was placed in receivership and its assets sold to Detroit-based First Independence Bank, costing the Federal Deposit Insurance Corp.'s Deposit Insurance Fund an estimated $19.7 million.
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Court documents reveal how a teller used the drive-through window and work email to aid a scheme that bypassed TD's fraud defenses.
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U.S. Bancorp shuffles management as COO Souheil Badran announces his retirement; Stock Yards Bancorp agrees to buy Field & Main Bancorp; Citi's wealth business hires Mercer's Olaolu Aganga for a newly created role; and more in this week's banking news roundup.
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American Banker has launched a new AI-powered search engine for our website.
The fintech, founded by an ex-Coinbase executive, seeks to offer stablecoin-powered global money movement services to businesses.
The 23rd annual ranking of women leaders in the banking industry.
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