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Federal Reserve Vice Chair for Supervision Michelle Bowman outlined several priorities affecting community banks, including potential changes to asset thresholds for smaller institutions.
January 7
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The U.K. bank has completed a payment using the stablecoin alternative; while Revolut is trying to acquire Turkish neobank FUBS. Plus: execs tied to the Wirecard scandal are on their way to prison and more in the American Banker global payments and fintech roundup.
January 7
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The bank is investing in Ubyx to help traditional financial institutions settle stablecoin payments and compete with nonbank fintechs.
January 7
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President Trump said he would prohibit large institutional investors from buying single-family homes. While the executive couldn't bar such investments on its own, a legislative ban could gain bipartisan support.
January 7
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The company's asset and wealth management business is completely cutting ties with proxy advisors, opting to build its own research and public company voting system. JPMorgan is the first bank to stop using firms such as Glass Lewis and ISS.
January 7
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With fintechs and legal cases pressuring payment fees, the card companies are leaning more on revenue from other sources.
January 7
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The 81-year-old Metamora State Bank renamed itself Bank419 to better align its brand with its business after years of regional expansion.
January 7
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Industrial loan companies play a vital role in local economies across the country, providing liquidity in areas that other banks overlook. Restricting the availability of ILC charters would be bad for business.
January 7
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The Kansas City, Missouri-based bank completed its first bank acquisition in 12 years on New Year's Day. Now it's focused on retaining and growing FineMark Holdings' high-net-worth clients in markets such as Southwest Florida, South Carolina and Arizona.
January 7
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PicPay is making a second attempt at entering the U.S. market as a profitable digital bank and a competitor to fellow Brazilian fintech Nubank.
January 6
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Attackers stole over $340,000 in stablecoin from the Venezuela-focused app. The incident adds to recent troubles including frozen accounts at JPMorganChase.
January 6
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A housing official renewed his call for credit bureaus to address lenders' concerns. Low pull-through magnifies a cost that's small relative to others.
January 6
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As the Senate Banking Committee stands poised to mark up crypto market legislation within days, banks are focused on blocking crypto exchanges from offering rewards on stablecoins, which they fear could siphon deposits away from community banks.
January 6
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American Banker research highlights growing concerns about an economic downturn, regulatory volatility and open-banking risks.
January 6
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The deal still faces a lawsuit from activist investor HoldCo Asset Management, which contends that Comerica didn't properly shop itself before agreeing to sell to Fifth Third.
January 6
