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The American Fintech Council publicly declared support for California SB 69, which would require "internal expertise" for artificial intelligence regulation.

Four years after its launch, the Mission Driven Bank Fund has ended its fundraising well short of its original $500 million target. Still, organizers are hopeful that the fund's performance will attract other investors to the sector.

U.S. Bank's merchant acquiring unit has expanded its partnership with embedded finance fintech Liberis to offer its small business clients working capital loans.The two companies previously offered loans in the U.K., Ireland and Poland.

Legal experts say President Trump's unprecedented move to fire Cook over alleged past misconduct will likely be hashed out in court, but there is little precedent to determine whether a sitting board governor can be removed for past actions.

Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.

The card brand is reportedly focusing on other markets amid uncertainty in U.S. regulations and as banks consider fees for data sharing.

Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.

President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.