Treasury Secretary Scott Bessent appeared to urge the crypto industry to deal with bankers in the yield stablecoin issue during his regular testimony in the Senate Banking Committee Thursday.
The bank technology seller's deal with Sumitomo Mitsui Card Company is an opportunity to cash in on a government initiative to reduce cash — and comes on the heels of an earnings miss. Plus, Klarna plans to offer more credit options through a partnership with Walmart-backed OnePay, Revolut embraces agentic AI protocols and more in American Banker's global payments and fintech roundup.
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While stablecoins aren't widely used for merchant payments, blockchain tech firms such as BVNK and Polygon Labs are seeking opportunities to add speed to slow-moving international transfers.
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The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.
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Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
The acquisition will improve how clients can use agentic artificial intelligence to attract and reel in consumers.
Court documents reveal how a teller used the drive-through window and work email to aid a scheme that bypassed TD's fraud defenses.
Banking trade associations told the Office of the Comptroller of the Currency that regulators should reform rules around third-party risk, saying concentration and limited choice of core service providers places an undue burden on banks.
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As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against financial crime.
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Once seen as a sleepy corner of the financial services industry, asset servicing has become increasingly important for banks as artificial intelligence, blockchains and a generational transfer of wealth alter the landscape.
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The future of banking will see core bank systems rebuilt around artificial intelligence tools that inform decisions about everything from underwriting to compliance. Banks must begin the transition now.
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WomenVenture, a Minneapolis-based Community Development Financial Institution, was already under strain from stalled federal CDFI funding. The recent immigration crackdown added significant uncertainty for its customers as well.
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Pulte says a GSE stock offering remains likely in 2026, but other policy paths are in play. NMN survey data shows the industry expects broader changes first.
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Federal Reserve Gov. Stephen Miran, who had been on a leave of absence from his position as Chair of the White House Council of Economic Advisers since he was confirmed to the central bank in September, resigned his CEA role Tuesday to uphold his promise to resign his White House role if he remained past the expiration of his term, which concluded Jan. 31.
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At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.
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Prosecutors claim the Forbes 30 Under 30 honoree maintained two sets of books to hide Kalder's actual revenue of just $60,000.
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The buy now, pay later lender is carving out a lane for itself with exclusive deals with Intuit's Quickbooks Payments and Expedia's websites. It also will be the default BNPL provider for Bolt's one-click checkout.
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Treasury Secretary Scott Bessent appeared to urge the crypto industry to deal with bankers in the yield stablecoin issue during his regular testimony in the Senate Banking Committee Thursday.
Reza Rooholamini serves as chief science and AI officer at CCC Intelligent Solutions, where he brings deep expertise in artificial intelligence, cloud computing and emerging technologies.
The demise of the banking industry in the U.S. has been incorrectly predicted for generations. The truth is that the industry never dies, because it never stands still.
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