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The SEC's pending requirement that securities trades settle within one day shouldn't be a problem for any modern financial firm. What we should be aiming for is real-time settlement.
May 23 -
Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed. A Senate panel has spent much of the last year examining fraud on the bank-owned payments network.
May 22 -
The bill includes a provision that would codify Republicans' and the banking industry's complaints with a Securities and Exchange Commission measure that banks say would bar them from custodying crypto assets.
May 22 -
FDIC chair Martin Gruenberg's departure from the agency may have political implications as the White House and Senate scramble to name a successor, but experts agree that the move will likely result in a weaker Basel rule and stronger role for the Federal Reserve in joint rulemakings.
May 22 -
Two years on, U.K. regulators on Wednesday revealed the result of their long-running probe into Citigroup's actions that day as they saddled the bank with £61.6 million ($78 million) in penalties for the mistake.
May 22 -
While the $800 billion in PPP loans has largely self-liquidated through the forgiveness process, SBA continues to service the longer-duration EIDL portfolio and will likely be doing so for years to come after opting to hold on to the loans.
May 22 -
Royal Bank of Canada, in partnership with TIFIN AG, is testing a pilot to provide its wealth management advisors with AI tools to see what the technology can do.
May 22 -
It is increasingly clear that joining a risk consortium is the best defense banks have against fraudsters who are increasingly powered by artificial intelligence.
May 22 -
Santander joins Iberpay as the first supporters of the European Payment Council's instant account-to-account network, Australian lawmakers approved bills to create a federated digital identity system, and more.
May 22 -
The Consumer Financial Protection Bureau issued a new interpretive rule designating buy now/pay later lenders as credit card providers, subjecting those services to consumer protections like the right to dispute charges and receive refunds.
May 22