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The stablecoin issuer has received final approval from the federal agency to open a trust bank division for custody of digital assets.
The Denver-based bank reported that two loans soured, one due to fraud. A number of other lenders reported sizable fraud-related losses last fall.
The Wyoming digital asset bank is requesting that the high court review previous decisions granting the central bank 'unbounded, unreviewable discretion' in light of its recent Cook and Slaughter rulings. A decision could impact how cryptocurrency intersects with the standard banking system.
U.S. Bank, Arvest, Old National, BMO and WaFd took the losses in a decade-long scheme the DOJ announced.
Brooke Pilant, who was at Ameriprise from 2017 to 2024, accused the firm of turning against her after she raised concerns about "unethical practices."
Bangkok-based The Siam Commercial Bank will use the New York-based bank's 24/7 clearing and tokenized deposit service in a sign that the banking industry is beginning to look past individual tokenized deposit platforms and toward interoperability.