Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.

An October staff memo from the Federal Reserve's Division of Supervision and Regulation outlines changes to how supervisory activities will be carried out, including a greater emphasis on relying on examinations conducted by state banking supervisors.

The Office of the Comptroller of the Currency issued an interpretive letter Tuesday that would allow banks under its jurisdiction to hold small amounts of network tokens to test and process customer transactions.

Treasury Under Secretary for Domestic Finance Jonathan McKernan said he is concerned that the traditional bank funding model of taking in low-cost deposits and making more lucrative loans could be set for a shakeup as fintech challengers get more competitive.

The rise of stablecoins is once again raising questions about the purpose of money, should it be regulated as a public good facilitating commerce, or a private claim to a specific asset?

From private credit to stablecoins, firms with scant oversight have been allowed to gobble up business that formerly went to regulated banks. Until balance is restored, the system is overburdened with risk.

ICBA argues Bridge's stablecoin model pushes the trust charter beyond its intended fiduciary scope.