Federal Reserve Vice Chair for Supervision Michelle Bowman played down the significance of Kraken Financial receiving a master account, saying the central bank is treating it as a pilot program.
There's no reason that today's millennial-friendly microinvesting apps can't switch focus from spare change to real assets, industry executives warn.
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The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it's unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.
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The number of states with earned wage access legislation doubled in 2025 with six states passing new laws. Connecticut regulators have been particularly strict, creating conflict between lenders and the government.
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The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
TD moved its automated trading service to the cloud, in the hopes of new levels of efficiency and computational power.
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The North Carolina bank’s wealth arm now operates in nine of the 10 largest U.S. markets.
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The Pittsburgh company is adjusting the structure of a unit that has a national reach following the acquisition of most of BBVA’s U.S. operations. PNC has also named Jennifer Lee as the private bank’s head of U.S. markets.
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The Alabama bank hopes that its new InvestPath platform, which combines automation and personal interaction, will attract first-time investors.
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The latest inflation news has created concern that the Federal Reserve's pivot on short-term rates could be delayed.
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Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.
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Some legal experts say the U.S. Supreme Court justices appeared to favor national rules preempting state regulations in the Bank of America in a case regarding mortgage escrow accounts.
The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
The Mortgage Bankers Association is examining the data to see if the high ratio warrants a new push for a premium cut but said rising arrears call for caution.
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Trump's bank regulatory team is advancing all types of wish-list reforms, some more radical than others. When, not if, the political winds change, banks should be ready for a sharp reversal, what could become a wave of "revenge regulations."
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The government should allow and encourage financial institutions to deploy advanced technologies to protect customers from fraud enabled by agentic AI, instead of punishing them for innovating in response to new threats.
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The creation of a Strategic Bitcoin Reserve creates a tempting target for bad actors, and raises the stakes for everyone in the areas of anti-money laundering, cybersecurity, market-volatility and sanctions-screening.
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Fintech lenders are positioned to help businesses navigate the latest round of global tariffs announced by President Trump, even as the volatility causes overall decreases in loans.
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Markets were bracing for the chaos of a regional war; banks may be the target of sophisticated cyberattacks, experts warn.
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The financial advisory firm initially sought an industrial loan charter back in 2020. It's the third company to receive the necessary approvals this year, joining General Motors and Ford.
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Though changes to bank capital rules previewed by Federal Reserve Vice Chair for Supervision Michelle Bowman in February are being viewed as welcome, experts say other more significant hurdles — not all of them regulatory — are keeping banks on the sidelines of mortgage servicing and lending.
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The proposed national trust charter company would be a wholly owned subsidiary of Morgan Stanley. The application was filed on Feb. 18.
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Fulton Financial received the necessary approvals to acquire Blue Foundry Bancorp; JPMorgan hired two Bank of America health care veterans while shuffling leadership; Mizuho Financial Group has plans to replace about 5,000 administrative jobs with artificial intelligence over the next 10 years; and more in this week's banking news roundup.
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Preferred Bank moved a $115 million block of loans to nonaccrual status after the borrower, which is battling fraud charges leveled by other banks, began missing payments.
A final rule published by the Office of the Comptroller of the Currency Friday will formalize a 2021 interpretive guidance allowing national trust banks to perform non-fiduciary custody. The banking industry complained that the rule runs counter to the traditional scope of the charter.
The 23rd annual ranking of women leaders in the banking industry.
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