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Despite the massive losses and growing criticism that the industry is rife with fraudsters and Ponzi schemes, a dozen industry employees interviewed by Bloomberg News said that while they're rattled by the crisis, they remain committed to crypto and its potential.

A group of unions filed a complaint against Starbucks Corp. with the U.S. Securities and Exchange Commission, asking the agency to investigate how the coffee chain accounts for unused money left on customers' stored-value cards and accounts.

A heated panel discussion sponsored by the Federal Housing Finance Agency raised questions about the funding, structure and mission of the Home Loan banks.

The National Credit Union Administration found that O.F. Toalston Federal Credit Union and Mingo County Education Federal Credit Union — which were placed into conservatorship last month — would never regain sustainable operations.

While many of the details around FTX's remarkable collapse will only be revealed as it progresses through bankruptcy, interviews with FIA conferencegoers this week show they're facing a reckoning of their own.

In global news this week, Spanish banks test a CBDC, RBC offers buy now/pay later in Canada, and Microsoft expands its relationship with a British fintech.

The Biden administration is considering extending its pause on student loan repayments, now set to resume Jan. 1, in response to legal challenges to its student-debt forgiveness program, according to people familiar with the internal discussions.

Visa is working with online travel agencies to promote the use of virtual cards and tokens to streamline payments, refunds and add-ons.

In a new report, the Treasury Department also raises the question of scrapping the $10 billion threshold for debit card issuers in the Durbin amendment.

Banks that offer a wide array of products and services are confronting extraordinary challenges. They aren't doomed, however.