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Mastercard has added an "agentic cloud" to speed deployment, while Visa has issued a protocol to help AI agents communicate. That and more in American Banker's global payments and fintech roundup.

Allowing lenders to base mortgage decisions on single- or double-pull credit reporting would result in more risk to banks, and higher costs for borrowers.

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.

The Federal Reserve's policies are pressuring banks' balance sheets. While Chairman Jerome Powell is talking about backing off quantitative tightening, he may be waiting too long.

CEO Bill Demchak said there seemed to be "some confusion," after PNC's stock fell some 4% on Wednesday.