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Block, which maintains its original Square brand for its business-focused products, is offering easier access to cash advances for small businesses. Also, Amex and Mastercard expand their virtual card strategy; and more in the American Banker global payments and fintech roundup.
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The White House working group on digital assets said in a report that regulators should "promote transparency regarding the process for institutions to obtain bank charters or Reserve Bank master accounts."
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Federal Reserve Chair Jerome Powell said during his regular press conference Wednesday that the process of determining tariff-related price increases was always going to be slow, but it has taken longer than he expected.
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A report Wednesday detailed Scattered Spider's advanced social engineering tactics and the escalating threat the group poses to financial institutions.
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12 states have laws governing earned wage access, also known as on-demand pay, and while many follow similar general guidelines, small – yet critical – distinctions are emerging with each new regulation.
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The largest bank in Missouri, which completed the acquisition of Heartland Financial USA early this year, is on track to switch Heartland's systems over to UMB's systems in mid-October. The conversion should help realize "the next big slug" of expense savings, UMB's CFO said.
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