Block last week cut 40% of its staff and attributed the layoffs to artificial intelligence, leaving many to wonder whether Jack Dorsey's payments company was a bellwether for widespread AI-driven layoffs, or a one-off.
Experts across the financial services space hold that the White House's new mandates won't bring wholly new rules to the industry, but will hopefully explain what the path forward for governing agencies will look like.
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Visa is introducing a premium service to the Middle East, and Lloyds Banking says its cash protection product is showing results. Plus, Brex teams up with Doordash and more in the American Banker global payments and fintech roundup.
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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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ATG Trust, which has $387 million of assets under management, handles land trusts and administers court-supervised guardianships.
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Scott Ford is the new president of the 1,400-employeee wealth management unit that caters to affluent clientele of the Minneapolis company.
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Flush with capital from issuing subordinated debt, Peapack-Gladstone is exploring acquisitions in Florida and New York in an effort to generate more fee revenue.
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Broader economic factors, including growing household debt, are also likely to keep the housing market stagnant, Freddie Mac said.
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Even though it is less than two years since it allowed Fannie Mae and Freddie Mac to accept such valuations, it is difficult to evaluate their effectiveness without such examinations.
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The top five servicers that are depositories have a combined unpaid principal balance of more than $1.89 trillion at the end of Q2 2023.
AxiomGo is being offered to customers seeking alternatives to prepaid cards and traditional checking accounts.
Comerica announced the promotion of Kristina Janssens to be its next chief risk office; Washington Trust hired James "Jim" Brown, an executive from Berkshire Bank, as its chief commercial banking officer; Citizens Financial pledged $20 million to support workforce development programs; and more in this week's banking news roundup.
The Consumer Financial Protection Bureau plans to issue an interim final rule soon on consumer financial data rights because the agency expects to run out of money by Dec. 31.
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Shrinking the Federal Home Loan Bank System from 11 banks to eight would save members money, improve efficiency and generate more money for affordable housing.
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Central bank digital currencies have the potential to improve financial inclusion for women, but only if they are combined with a system that lowers multiple other barriers to their financial empowerment.
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The world's largest asset manager has recognized that investing in organizations that champion environmental, social and governance issues is not an inherent good. This shows that market forces are reasserting themselves.
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The bank announced Tuesday its Blueprint for Housing Opportunity plan, a five-year commitment dedicated to increasing the supply of housing.
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Andrew Torre, the card network's president of Value-Added Services, said demand for security, agentic commerce and better processing are creating demand for technology and consulting.
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Stripe, which is closely held and is among the industry's most valuable companies, has expressed preliminary interest in a potential acquisition of the digital payments pioneer or its assets.
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President Donald Trump talked about institutional single-family home ownership and housing affordability, as well as inflation, but left credit card rate caps, debanking and even crypto alone at the State of the Union address.
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Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.
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If the company gets final approval, it will be the newest crypto firm to receive a charter in recent months.
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Banks that have more than $50 billion of assets but are smaller than the megabanks scored the lowest on customer satisfaction, according to the American Customer Satisfaction Index's 2026 finance study. The industry's overall score remained stable.
Dennis Devine joins the San Francisco-based banking giant after a stint at Chicago-based Alliant Credit Union, which grew rapidly during his four years at the helm.
The 23rd annual ranking of women leaders in the banking industry.
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