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Tether will pay $41 million to settle allegations it lied in claiming its digital tokens were fully backed by fiat currencies, putting a major compliance headache behind the world’s biggest issuer of stablecoins even as regulatory scrutiny intensifies.

A central bank digital currency based on the U.S. dollar could pull deposits from banks, and it might crowd out innovative private-sector products.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

During a House hearing, Democrats advocated for measures that ensure businesses keep accepting paper money, while Republicans argued in favor of chartering more fintechs and promoted stablecoins to extend access to the underbanked.

The new ATMs deter card-skimming fraud through encryption, individually paired card readers and a design that requires users to dip their cards at an angle.

Goldman Sachs Group posted a surprise jump in its trading business, rounding out a stellar quarter for Wall Street’s biggest banks.

Charlie Scharf faced tough questions Thursday in the wake of a recent $250 million fine. Analysts did not get the clarity they sought on how much longer the bank will be constrained by a three-year-old consent order with the Fed.

The cryptocurrency exchange, which has been embroiled in a dispute with the Securities and Exchange Commission, says the federal government should create a stand-alone body to supervise the marketplace for digital assets.

In a bid to boost fee income, the Minneapolis company is upgrading its payments technology to allow businesses to manage inventory, payroll and other functions — as well as make payments — all in one place. The tech is modeled after an offering from Square.

Banks and other stakeholders are trying to stop a proposal requiring financial institutions to submit more account data, but the Biden administration says opponents of the measure are spreading the false notion that it would reveal information about specific transactions.