Commercial banking

There is conclusive evidence that stablecoin adoption does not lead to deposit runoff at community banks. This should give bankers the confidence to grow their businesses by offering stablecoin-related services.

The Canadian institution plans a U.S. tokenized deposit, contending that it can help banks keep and grow deposits amid threats from fintech-issued cryptocurrency. Founder and President David Taylor is encouraging others to do the same.

Founder and executive chairman Edward Nigro will step back into the top executive spot after Ryan Sullivan informed the company he didn't plan to renew his employment contract.

Mark Piszko, CPA, is a partner at PKF O'Connor Davies. He has nearly 40 years of experience in providing auditing and consulting services to a wide variety of not-for-profit entities, including charitable organizations, religious entities, educational and cultural institutions and social services agencies that receive government funding. He is the partner-in-charge of the firm's not-for-profit practice area and is the firm's quality assurance partner for single audits.

The Bureau of Labor Statistics reported that the economy added 22,000 jobs in August, raising the unemployment rate to 4.3% and providing additional cover for the Federal Reserve to lower interest rates in September.

Fintechs are rolling out business financing tools that are packaged as buy now/pay later and earned wage access in the hopes of capturing momentum from the budding consumer finance industries.

Both Fannie Mae and Freddie Mac made similar changes to their policy when it comes to disclosures and retention rules for an appeal of a valuation.

Organizers of the planned Portrait Bank say they're well ahead of initial capital-raising goals as they near completion on leasing a property to serve as headquarters