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The event Wednesday marked the first time Teng has spoken in the U.S. capital since becoming CEO.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency took a measured approach to developing the international capital standards, according to a Government Accountability Office report.

Rep. Andy Barr, R-Ky., who chairs the House Financial Services Subcommittee on Financial Institutions, called the CFPB under the Biden administration and former Director Rohit Chopra an "Orwellian predator."

Jack Dorsey's payments company cut 931 jobs. Also: Western Union looks to artificial intelligence; Marqeta adds an e-marketplace; Westpac takes on scams; and more news in the global payments and fintech roundup.

The president's son spoke at a panel alongside the co-founders of the Trump-backed World Liberty Financial the day after it launched a new stablecoin.

The digital bank announced upgrades to its online and mobile platforms that let users see financial information from multiple accounts on one dashboard.

The stablecoin known as USD1 will be on the ethereum and Binance Smart Chain blockchain networks.

The Treasury will phase out the use of paper checks for most government payments in about six months. The Trump administration says the move will improve efficiency and reduce the cost of payment processing.

Current leverage-based capital requirements are outdated, counterproductive and urgently need reform to better serve U.S. taxpayers, capital markets, consumers, businesses and the economy.

Dave Cunningham, senior case manager for Alvaka shares insights on ransomware attacks, how to avoid them and what victims should do if they are targeted.