OLYMPIA, Wash.– The Washington CU League joined Attorney General Rob McKenna, the AARP and legislators in encouraging the state Legislature to give all Washington residents the opportunity to freeze access to their credit reports when issues of identity theft arise. “Under our current law, a pickpocket could snatch your wallet, a scam artist could trick you into providing personal information over the phone or computer, your home could be broken into and personal documents could be taken – but you have to wait until further damage is done before you can block access to your credit report,” McKenna said. “It’s like having a law that says you can’t put a deadbolt on your door until your house has been burglarized."
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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