Earlier in the day, Fed Gov. Stephen Miran chastised the Fed for wading into politics under the Biden administration, as he currently takes unpaid leave from President Donald Trump's top advisory council.
The nation's Federal Reserve Banks have kicked off a multi-year process aimed at speeding up our often painfully slow payment system. Earlier this month, a Fed task force on the issue elected a steering committee that will play a key role in defining a path forward. The 19 members on the steering committee represent various parts of the payments ecosystem, including banking giants, corporations like Walmart that are large users of the payment system, and payment innovators like Dwolla and Ripple Labs. Here's a look at 13 of them.
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Tidal, the music streaming service once owned by recording artist Jay-Z, laid off more than 10% of staff as part of a wider round of austerity moves announced last month by its parent company, tech billionaire Jack Dorsey's Block.
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Canada's government has finalized arrangements with Visa and Mastercard to cap credit card interchange for small businesses; Klarna is expanding its work with the Dutch payment processor Adyen; and more.
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MoneyLion and Pagaya, which were among the many payment companies that fought headwinds in the past two years, are using product and capital markets strategies to help them recover.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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High-net-worth individuals invested $2.1 billion in commercial real estate last year, up from $579 million in 2009, according to Real Capital Analytics Inc., a New York research firm.
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Bank of America Merrill Lynch's retirement services unit is generating significant new business, much of it from existing clients of the bank.
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Grantor retained annuity trusts allow wealthy children to pass investment gains on to their parents or grandparents without dipping into their $5 million lifetime gift tax exemptions.
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The Consumer Financial Protection Bureau has published a new "frequently asked questions" tool to help mortgage lenders with TILA-RESPA integrated disclosures compliance.
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Just as the Trump administration appears focused on releasing a framework without Congress, the Senate Banking Committee has re-entered the policy fray with a new proposal.
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Community banks generally make digital a consumer play, but TransPecos Bank, with its BankMD brand, is focusing on doctor practices, which tend to weather economic downturns well.
Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
Despite crypto-friendly signals coming from Washington, getting a bank account still appears to be a challenge for crypto businesses and investors.
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The key for bankers to stay safe from mystery shoppers using aggressive techniques — many of whom are well funded by community investment pacts with megabanks — is to adhere to proper lending practices 24/7.
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It’s past time for Congress to investigate these transactions at the federal level.
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The executive order on cryptocurrencies leaves many important questions unaddressed.
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New Federal Reserve research reveals that identity theft victims who use extended fraud alerts often see significant and lasting credit improvements.
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The retail giant is betting on the mainstream appeal of digital assets, while Lloyds' cash-preservation strategy gains steam. That and more in American Banker's global payments and fintech roundup.
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Federal Reserve Gov. Michael Barr is warning small banks about the growing threat from fraudsters' use of AI-generated deepfakes. But he also says AI may be able to help community banks fight fraud more effectively.
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The two banks lead Evident's AI Index, which scores banks according to AI talent, innovation, leadership and transparency.
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Top Democratic lawmakers are asking the full appeals court to hear a case about the Trump administration's efforts to fire employees at the Consumer Financial Protection Bureau.
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The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department.
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Two large companies' announcements that they're laying off thousands of people they've deemed not AI-savvy have drawn mostly negative reactions.
The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.
The 23rd annual ranking of women leaders in the banking industry.
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