As the Office of the Comptroller of the Currency receives a spurt of applications for national trust charters from crypto and payments firms, bank trade groups are urging regulators to ensure proposed activities fit within the statutory limits of the charter and the law.
The bank’s clients now have a simpler alternative for logging in to treasury management and other commercial accounts, part an effort by bankers to offer business customers more convenient high-tech services that are still secure.
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The company said the P2P payment service the bureau seeks to supervise presents no risk to consumers because it is no longer offered in the U.S.
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The Consumer Financial Protection Bureau said that, although the Google Pay app has been discontinued, the bureau can make the determination based on past behavior, and that the tech giant could decide to reenter the person-to-person payment space.
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The long-time bank and financial services technology executive has a record for cutting costs and supporting rapid automation, skills that could be put to work at the 90-year-old agency.
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The Chicago-based bank, which failed Friday in the first bank failure of 2025, caused a $28.5 million hit to the Deposit Insurance Fund. The FDIC was appointed receiver and Millennium Bank will assume all deposits.
The quarterly data showed bank profits were driven by gains at large firms while credit quality remained mixed, with commercial real estate loan stress at relatively high levels.
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Strategic alliances are a viable avenue leading to risk reduction and higher profits — provided that bankers can learn to embrace them.
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In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.
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The recently announced merger of Capital One and Discover would create a credit card behemoth, but would also create a credible challenger to the Visa-Mastercard duopoly. Regulators will have to choose between having both or neither.
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The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.
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The payments giant had a "better than expected" fiscal fourth quarter, and said it expected that momentum to carry through the holidays. It's also looking forward to tailwinds brought by the Olympics and the FIFA World Cup in 2026.
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Brian McEvoy, chief retail banking officer at Webster Five in Central Massachusetts, says community banks are in a unique position to serve more small businesses. He was a speaker Tuesday at American Banker's 2025 Small Business Banking conference.
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The global financial services company is providing BaaS infrastructure to the digital asset branch of investment platform WisdomTree.
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Park National Corp's $317 million, all-stock deal for First Citizens Bancshares would give the buyer a presence in markets that are expected to grow faster than its legacy Ohio footprint.
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Anchorage Digital Bank, Custodia Bank and Erebor Bank could be among the first recipients of limited, special-purpose payment accounts recently floated by Federal Reserve Gov. Christopher Waller.
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Sean Vicente is the KPMG US Sector Leader for Insurance, leading the US Firm's insurance advisory, tax, and audit practices. Sean has over 30 years of experience in the sector spanning the breadth of our businesses in assisting clients with reporting and SEC filings, leading transactions, supporting transformations, and driving operational excellence. He is passionate about bringing the full strength of KPMG's unmatched culture and collective capabilities to solve complex challenges and deliver meaningful outcomes.
A group of European banks have formed Qivalis, which expects to launch its coin in early 2026 as a counter to the U.S. dollar-led market. Plus, Singapore regulators give Ripple permission to expand and other news in the global payments and fintech roundup.
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