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Investors were encouraged by Global Payments' fourth-quarter earnings results – the first post WorldPay acquisition – but some analysts remained skeptical that the legacy fintech could turn its business around.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., warned the Treasury Department and Federal Reserve in a Wednesday letter not to bail out cryptocurrency firms in the wake of sharp declines in digital asset values over the last several months. 

Tokenized money market funds are becoming more money-like — but, unlike the payment stablecoins that share the same backing, they are securities. Noelle Acheson looks at what this means for our understanding of money.

Lenders with between $10 billion and $100 billion of assets grew their core deposits by more than 8% last year, or more than double the industry-wide average. Merger activity was largely responsible for the outsized growth.

The Olympics are boosting spending in Italy, large-in-part thanks to Americans. In the U.K., Barclays is reportedly leading a meeting to seek support for an existing project. The meeting comes against the backdrop of geopolitical concerns and the dominance of American-based payment firms.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in comments Wednesday that the central bank plans to publish its Basel III endgame capital proposal for public comment before the end of March.

The sale of AO Citibank to Moscow-based Renaissance Capital marks the end of an exit plan that started in 2021 and expanded after Russia invaded Ukraine the following year.

Data breach extortion group ShinyHunters used social engineering to steal customer names, addresses and phone numbers from the blockchain lender.

About 70% of bank CEOs said in a recent survey that they are the AI decision makers in their companies. The reasons for this range from the huge impact AI can have on an organization to the fear of missing out. 

A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.

Beneficial State Bank in Oakland has reached a three-year agreement with the Communications Workers of America. The deal follows a groundbreaking union pact the bank signed in 2021.

Alexis Goldstein, who was terminated from the Consumer Financial Protection Bureau last week, is running for Congress in Maryland's 6th District, which hosts a disproportionate number of federal workers.

Doubling down on what has worked in the past — especially if it's still working now — may inadvertently trap banks into business models ill-suited for the future. Smart bankers make room for change before it is forced on them.

Banks and credit unions are pairing AI-driven efficiency with stable staffing and cross-training to scale mortgage production as originations rebound and technology expands capacity.

The Federal Reserve is moving quickly to implement its proposed "skinny" master account, giving state-chartered fintechs more access to the central bank's payment systems. But experts say a legal challenge to the rule is almost certain, regardless of where the Fed draws the line.