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The central bank believes it needs authorization to issue a digital dollar, but others say the hurdles to implementation are much lower.
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CEO Rajinder Singh said battered competitors are "throwing off" both talent and customers, creating a chance for the Miami Lakes, Florida, bank to pick up new business.
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The banking industry and consumer advocates praised the Financial Stability Oversight Council's move to reinvigorate its authority to regulate nonbanks. But that effort is going to take time and is guaranteed to face political headwinds.
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Joe Evica, who has been employed with the Wisconsin-based insurance firm since March 2019, was terminated on April 4 for allegedly violating company policies.
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U.S. consumers may earn 3.92% interest on their account balances, with the choice to add pass-through Federal Deposit Insurance Corp. coverage through JPMorgan Chase for up to $250,000 of funds.
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The Consumer Financial Protection Bureau said it is still working to notify consumers about the Feb. 14 breach in which a bank examiner sent personal information on 256,000 consumers and supervisory information on 45 institutions to his email.
