The Latest

The digital bank is also partnering with two pro pickleball leagues to court fans through a consistent presence at tournaments later this year.

Regulators from California, Massachusetts, Minnesota, Nebraska, New York and Texas levied the fine for anti-money-laundering and Bank Secrecy Act violations, which comes as Wise seeks a banking license in the U.S.

U.K. regulators said Monzo didn't properly vet new customers, while Vocalink was dinged for risk management lapses. Also, Paxos launched a dollar-backed coin in the European Union; and more news in the weekly global payments and fintech roundup.

The case has put chief information security officers on notice that they could be personally liable for false statements about security policies and practices.

Growth in conventional originations at U.S. banks came with the unexpectedly rapid rise of 30-year fixed interest rates in 2022, Federal Reserve researchers found.

New Jersey state lawmakers have introduced a state-level Community Reinvestment Act that would include online lenders and credit unions — who are exempt from the federal law — in its scope.

One of the oldest U.S. banks is taking on custody of RLUSD, as stablecoins continue their perceived march toward general acceptance.

The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.

The union representing the Consumer Financial Protection Bureau in their suit against mass firings at the agency said the Supreme Court's ruling allowing President Trump to proceed with mass reductions-in-force elsewhere does not impact the union's lawsuit.

Stablecoins are already disrupting traditional finance and have the potential to eat away at banks' deposit base. Banks should be looking for ways to turn this emerging threat into an opportunity.