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The card networks extended an agreement to keep interchange the same for cards issued outside of the European Union; meanwhile Ant Group's Alipay adds a number of AI-powered assistants.

Washington policymakers are not adopting policies necessary to keep the U.S. on the cutting edge in payments. Fortunately, the dual banking system offers an alternative path forward.

Republican lawmakers want the Treasury secretary to extend the deadline for U.S. businesses to submit beneficial ownership information to the agency's Financial Crimes Enforcement Network. She emphasized that the agency is focused on penalizing willful non-compliance rather than enforcing 'gotcha' penalties against small businesses.

The ratings firm evaluated 4,100 loans to assess the state of 41 banks' commercial real estate risk. It found that the lenders should be holding, on average, about twice the amount of reserves they currently have for office loans.

The Federal Reserve's top regulator praised industry efforts to expand access to banking services, but warned about financial stability risks.

The Consumer Protections for Artificial Intelligence bill passed in May seeks to enhance consumer protections from the potential biases in AI systems through increased transparency and accountability from developers.

The Federal Reserve chair said there is a consensus within the central bank's board of governors for reproposing its capital rules, but notes that other agencies have not yet signed off on this approach.

The Cincinnati bank has agreed to pay a total of $20 million to settle a lawsuit by the Consumer Financial Protection Bureau over fake bank accounts and to resolve separate violations involving force-placed auto insurance.

Micromanaging the terms under which payment networks are willing to process debit-card transactions is bad for both businesses and consumers. Congress has the power to roll back intrusive regulations.

The financial institution, which downsized earlier this year, is trying to broaden its scope to retain businesses that don't want to use multiple providers.