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A point of sale glitch puts smaller sellers in a bind: They can refuse sales, fall back to cash and checks or take a leap of faith and absorb any transactions that fail after their systems come back online.

Bessant has served in a variety of leadership positions at the bank, including leading its technology initiatives and European strategy.

Ashton Ryan Jr. was convicted on dozens of fraud and conspiracy charges connected to the 2017 failure of the New Orleans bank he founded.

The Federal Reserve Board's vice chair for supervision called for the creation of a legislative and regulatory framework for overseeing dollar-pegged digital assets.

Regional banks may soon favor CLOs again while proposed rules could draw banks to the market long-term.

The Federal Reserve governor said the "risks and tradeoffs" associated with private and sovereign digital currencies need to be weighed carefully.

Regulators and the public are still concerned about the condition of the banking system. Bankers can't afford to look away.

Financial institutions struggle to connect emotionally with consumers, according to research from American Banker's publisher. Barclays and Bank of America say digital delivery and targeted incentives have found success.

After a steep sell-off early in 2023, the sector has recovered ground in summer trading as recession worries ease. But investors remain wary because loan demand is light, deposit costs are high, and net interest margins are under pressure.

When 55 banks were asked to provide metrics on the health of their commercial real estate borrowers, some of them gave data that was six months old. The survey by Moody's Investors Service also found that certain borrowers are already struggling, and others could hit trouble soon, since they'll need to refinance at high interest rates.