A group of subprime lenders, targeted in several states under predatory lending initiatives, have a
"We want a consistent set of guidelines that ensure consumers are getting a good deal and that they have enforceable
The conditional approval came with residency waivers for board directors and green-lights the bank's business model, which is aimed at serving tech companies and ultra-high net worth customers in the digital asset space.
Federal Reserve Gov. Christopher Waller said Wednesday that breakthroughs in artificial intelligence will undoubtedly make life easier and lead to growth, but acknowledged that the technology's adoption will lead to short-term labor market disruptions.
Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency will open the bidding process for failed banks to private equity and other nonbanks, streamline resolution plans and revamp its bidding and funding models, reforms spurred by 2023's bank failures.
Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.
"We actually see a little bit more strength in the nonprime [consumer]," CFO Brian Wenzel told American Banker.
New research from American Banker finds that most are still hashing out plans for crypto and stablecoins, but a handful have already launched projects.
