More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.

Scott Simpson, the next CEO of America's Credit Unions, talked to American Banker about how he plans to fend off a "clear attempt to try to destroy the business model."

Federal Reserve Gov. Christopher Waller said the private sector and central bank play complementary roles in payment innovation and stressed the need to maintain that collaboration as crypto technologies become more mainstream.

Consumer advocates are urging lawmakers to hold hearings on the Consumer Financial Protection Bureau's new open banking rule and whether Congress authorized banks to charge fees for data access.

Fed Vice Chair for Supervision Michelle Bowman warned that focusing too much on technology risks could make banks lose relevance with customers.

Senate Banking Committee Chairman Tim Scott, R-S.C., asked crypto firms to keep spending in elections, and said that they "literally" put Bernie Moreno, Sherrod Brown's successor in Ohio, in the Senate.

The Federal Deposit Insurance Corp. proposed a rule Tuesday that would allow banks to remove FDIC insurance labels except on initial webpages and no longer require alerts warning customers that non-deposit products are not insured.