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Regulation and compliance

Compliance burden key barrier to cannabis banking, GAO finds

Banks say the cost and complexity of anti-money laundering compliance — including enhanced due diligence and filing suspicious activity reports — is a major barrier to serving cannabis-related businesses.

By Ebrima Santos Sanneh
Reporter

20m ago
Artificial Intelligence

Do banks need a nutrition label for their AI model data?

The Financial Services Sector Coordinating Council's idea for describing data and its sources is starting to take off.

By Penny Crosman
Executive Editor, Technology at Arizent

1h ago
M&A

EverBank, WaFd say merger would address each firm's issues

The deal announced Monday would diversify EverBank's higher-cost funding model, and it would accelerate WaFd's transition away from its roots as a traditional thrift.

By John Reosti
Reporter

2h ago
Trump administration

Former FTC commissioner in Supreme Court battle joins NYU

Rebecca Kelly Slaughter's firing from the Federal Trade Commission spurred a lawsuit that led to the Supreme Court overturning Humphrey's Executor and ending agency independence. Slaughter says she will continue to work on consumer protection issues.

By Ebrima Santos Sanneh
Reporter

3h ago
Stablecoin

Circle expands stablecoin network with Tazapay acquisition

Tazapay's last-mile infrastructure will help Circle expand its own infrastructure and USDC distribution in the Asia-Pacific region and emerging markets, where demand for USDC-denominated transactions is growing.

By Joey Pizzolato
Reporter

4h ago
Inflation

Inflation expectations high but steady in key Fed survey

A consumer inflation expectations survey released Tuesday showed households expect inflation to be 3% or higher through at least the next five years.

By Kyle Campbell
Staff writer

4h ago