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Cash App's parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.

The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that's not driving away potential clients, executives say.

The $678 billion-asset bank highlighted its payments and investment management and trust business as fee generators in the recently ended quarter.

Chief Innovation Officer Don Relyea and Head of Applied Foresights Todder Moning described what interested them at this year's Consumer Electronics Show, and which technologies are getting close enough to become bank-ready.

The nominee to lead Federal Housing Finance is head of Pulte Capital Partners, which invests in homebuilding related businesses.

A midweek rally followed robust bottom-line results from JPMorgan Chase, Wells Fargo, Bank of America and several other large banks. But further interest rate cuts may be needed to sustain momentum.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

The bank, which owns a minority stake in Viva Wallet, can take over the company in June if its valuation falls before a certain level — which has resulted in a legal dispute with Haris Karonis, the fintech's owner. That and more in American Banker's weekly global payments roundup.

With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.

The bank is "very optimistic" that Trump will appoint financial regulators who are "more balanced" than current agency heads, CFO Daryl Bible said.

The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.

It's no accident that national banks have, so far, been insulated from major crypto disasters. Congress and the incoming administration should take heed and avoid eliminating the guardrails that have kept banks safe.

The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.

The Senate Banking Committee Chair launched an agenda that puts agencies on a shorter leash and separately took aim at the FHFA recent moves.

As Donald Trump returns to the White House, Goldman Sachs is looking forward to the "improving regulatory backdrop."