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When the Swiss banking giant bought rival Credit Suisse in 2023, it inherited an investigation over money the Nazis looted from European Jews. The issue now seems to be coming to a head in Washington.

Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.

Legal experts say the underlying economics of stablecoins mean that banning yield payments — banks' top priority in upcoming crypto market structure legislation — may not be as simple as banks had hoped.

As the Federal Open Market Committee announces its near-term interest rate plans Wednesday, market watchers expect the central bank to hold interest rates steady as policymakers seek greater clarity on the health of the economy.

The bill, known as the STOP Act, was introduced by State Sen. Samra Brouk and Assemblymember Steven Raga, and proposes that any wage or cash advance be considered a loan and subject to the state's 16% civil usury law.

TD Bank's Ruchira Ghosh, Northwest Bank's John Fick and Visa's Hector Rodriguez, with moderation by American Banker's Penny Crosman

State regulators say proposed changes by the Federal Reserve that would make state bank examiners the primary boots on the ground will make bank examinations faster, but could cause some issues to go overlooked.

Pre- and post-purchase, buy now/pay later loans from Affirm will be available on Fiserv-issued debit cards. Last year, Affirm and FIS inked a deal to bring Affirm's BNPL loans to FIS-issued debit cards.

The buy now/pay later lender is seeking to create Affirm Bank, a Nevada-chartered industrial loan company.

Crypto-linked cards are seeing strong volume growth despite offering little more than a crypto add-on to traditional payments systems — but familiarity is often a backdoor to more profound changes.

The bank technology seller's deal with Sumitomo Mitsui Card Company is an opportunity to cash in on a government initiative to reduce cash — and comes on the heels of an earnings miss. Plus, Klarna plans to offer more credit options through a partnership with Walmart-backed OnePay, Revolut embraces agentic AI protocols and more in American Banker's global payments and fintech roundup.

Executives surveyed by American Banker said companies vying to wrestle market share from banks are a major threat to operations in the coming year.

The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.

Cryptocurrency has traditionally been an investment product more than a way to make purchases, but fintechs are betting there's a future for digital assets at the point of sale.

Howard Green's new book Gimme a Crisis offers a deep dive into the former Scotiabank CEO's career, from bringing the NBA to Toronto to navigating 2008.

The payments firm is hoping that planting a flag in merchant stablecoin payments now will be accretive as stablecoins gain greater adoption.

Rep. Bryan Steil, R-Wis, and Rep. Ritchie Torres, D-NY, introduced a federal earned wage access bill that would prevent EWA from being classified as credit and preempt any state from designating it as such.

Stablecoin yield has continued to be a flashpoint as bank groups look for a blanket ban on crypto exchanges and other nonbanks offering yield-like rewards for holding crypto.