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Fintech founder Randy Fernando launched his latest startup, an AI-focused software provider for banks called Maximum, with $30 million in seed funding.

The Treasury's financial crime prevention arm said the Swiss firm's U.S. brokerage wing largely ignored a 2018 consent order to clean up its anti-money-laundering processes, leading to the historic settlement announced early in August.

Mark Paoletta, the Consumer Financial Protection Bureau's chief legal officer, has taken over as the agency's acting director. Russell Vought's term ended Aug. 1.

The bank, which denies discriminating against President Trump's business, said its internal review was triggered by "transaction patterns" that "are among the types of activity flagged by federal banking guidance."

The investment is expected to bring a 40% increase to Chase Home Lending's mortgage capacity, with the addition of 850 new advisors, the company said.

The Fed chair attributed recent rising bond yields to a strong economy. However, investors are probably also responding to other factors, including Warsh's own comments about potential changes to inflation measures.

The neobank is the latest fintech to file a de novo trust bank charter application ahead of the GENIUS Act formally taking effect.

The CLARITY bill is still on Congress' to-do list before their summer break, but some of the more unusual provisions are causing a hold-up.

CISA's updated standard asks vendors for every component in their software, including borrowed code. Two researchers say today's tools can't produce it.

At a time of rapidly rising prices, a number of credit-card companies are offering perks for buying gas, groceries and other basic necessities. The cards represent an opportunity for issuers, but also potential pitfalls.