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The president is set to sign an executive order Wednesday directing federal financial regulators to address risks associated with digital assets and explore the establishment of a digital currency.
March 9
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Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.
March 8
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The Columbus, Ohio, bank plans to cut the price to consumers who spend more than they have from $36 to $15. In another change designed to help customers who live paycheck to paycheck, it will start offering instant access to check deposits.
March 8
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Chicago Title Insurance Co. and Chicago Title Co. LLC agreed to the payment to resolve a lawsuit brought by the bank, which said the firms had helped orchestrate a borrowing scam involving liquor licenses, according to a regulatory filing.
March 8 -
Some consumer protection initiatives, including those aimed at limiting overdraft charges and capping interchange fees, might have contributed to this lingering issue, a new Government Accountability Office report says.
March 8
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Visa and Mastercard are set to cut interchange rates for some transactions, but merchants argue that they will still pay more overall and want Congress to put a stop to the card networks' plan.
March 8
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Liberty Bank and Texas Capital Bank are among those trying to attract new online-only customers while experimenting with technologies to benefit the institutions overall.
March 8
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The business of influencing cryptocurrency policy in Washington exploded last year and has more than quadrupled in the past four years, according to a new study.
March 8
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Rep. Patrick McHenry, R-N.C., said at an American Bankers Association summit that if Republicans win majority control of the House in the upcoming congressional elections, they would “unleash the free market” by pursuing innovation-friendly policies.
March 8
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The sale of Partners Bancorp in Maryland to OceanFirst Financial in New Jersey was expected to be approved by midyear. But regulators' reviews of the applications are taking longer than expected, meaning the companies can no longer “give any assurance as to the timing” of the deal's completion, Partners says.
March 8 -
Pay for the leaders of Canada’s five largest banks rose an average of 28% as the lenders’ earnings increased and shares gained.
March 8
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Newtek, the No. 2 originator of Small Business Administration 7(a) loans, is buying a single-branch bank in New York. The news sent its stock price tumbling as shareholders revolted, but CEO Barry Sloane is staying the course.
March 8
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The Biden administration's decision to bar oil and gas imports from Russia could increase domestic production and energy lending yet impede overall growth and demand for credit.
March 8
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Bank of America’s consumer clients made $294 billion of total payments last month, up 16% from a year earlier, as the U.S. economy continued its recovery from the coronavirus pandemic.
March 8
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American Express said more than 40% of its U.S. employees have opted to work remotely on a full-time basis, double the number from before the pandemic.
March 8
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As Visa and Mastercard move swiftly to limit their business in Russia, their nascent rivals face a challenge to fill the gap.
March 8
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Numerous unaccredited and loosely regulated schools are offering buy now/pay later products as a payment option for students, according to the Student Borrower Protection Center. Its report, which called out PayPal, Klarna, Affirm and Afterpay, comes as the CFPB is considering how to regulate the sector.
March 7
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The mortgage interest deduction is capped, but the investment interest expense deduction isn’t.
March 7
