The Latest

The risk management firm Sardine is one of several tech providers trying to build partnerships with payment companies to thwart crooks that take advantage of the short window for instant settlement.

The list of 57 early adopters includes large banks like BNY Mellon, JPMorgan Chase and Wells Fargo, as well as large bank technology companies including Jack Henry, FIS and Fiserv.

Fidelity is the latest high-profile traditional-finance firm to join the race after BlackRock Inc. made a splash with its June 15 application for a spot ETF, which opened the floodgates for others to try their hand at it, as well.

The regional bank is expected to issue around three to five more bonds backed by its $11.5 billion loan book. Citizens earlier this month said it will halt new auto lending in partnership with dealers starting July 1.

Libor was never meant to become such an integral part of the financial system, yet it would eventually come to determine the cost of borrowing around the world, from interest-rate swaps and collateralized loan obligations to student loans and mortgages.

Banks and credit unions are often at odds, but when it comes to fighting the Consumer Financial Protection Bureau's proposed $8 late fee cap and changes to interchange fees, they have put their differences aside.

The technology that powers ChatGPT can sift through and even synthesize massive amounts of data, though it must overcome doubts over reliability, transparency and regulatory risk before it can be harnessed to conduct useful research.

Switzerland's decision to eliminate $17 billion of Credit Suisse's additional tier 1 debt as part of the government-brokered rescue of the troubled bank by UBS Group AG has made it a lot tougher for other Swiss lenders to issue those types of risky bonds, says a Vontobel Holding AG executive.

The demise of FTX, a prominent crypto exchange, late last year, has left the crypto industry grappling with the consequences and uncertainties left in its wake. As the crypto sector teeters on the edge of more forceful regulation, the aftermath of FTX's explosion has revealed deep fault lines within the industry and increased banks' already healthy level of caution toward the technology, especially after more crypto-aligned banks failed in 2023. The once-unified industry now faces a turbulent next few years. In this episode of BankShot, we delve into the implications of FTX's downfall and its lasting impact on banks, the crypto landscape and the emerging path toward regulatory clarity and stability.

People love the convenience of nonbanks' financial apps. Regulators could make it much safer for them to share their data with third parties.