The group, which is led by Rep. Andy Barr, R-Ky., and includes two high-ranking Democrats on the House Financial Services Committee, says the Securities and Exchange Commission's crypto-custody proposal could encroach on banking regulators' jurisdiction.

In a lawsuit between a Puerto Rican bank and the New York Fed, a federal judge ruled that reserve banks are not obligated to give master accounts to banks they deem risky. The decision could have implications for other master account challenges.

Almost a year since FTX's implosion set a minor banking crisis in motion, neither Congress nor regulators seem to be anywhere close to issuing comprehensive rules for the crypto road. That's a missed opportunity, and states are likely to fill the void.

Regulators are pushing a scheme that is completely out of touch with international regulatory norms. It would irreparably harm both consumers and the U.S. economy.

Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.

The U.K. government confirmed plans to regulate cryptoasset activities more strictly, bringing them under the same regime as traditional financial services.

The Federal Reserve's vice chair for supervision said FedNow and digital currencies are important areas for research, but not at the expense of legacy systems like cash and debit.

Citigroup is planning to grant the majority of its over 40,000 coders access to generative artificial intelligence as Wall Street continues to embrace the burgeoning technology.

The student loan servicer said that it's open to settling a high-stakes lawsuit filed by the Consumer Financial Protection Bureau during the Obama administration. It recorded a $45 million charge and said that the range of reasonably possible losses is between $0 and $250 million.

The Financial Conduct Authority has assembled a team of over 500 technologists as it weighs whether to adopt generative artificial intelligence to help examiners collect and synthesize data on billions of card transactions as part of its monitoring of the U.K.'s top banks.

A federal court extended an injunction that halts the Consumer Financial Protection Bureau's rule until the Supreme Court rules on the bureau's constitutionality.

The head of the Consumer Bankers Association takes issue with a recent BankThink article questioning bank CEOs' commitment to promises made in response to the Black Lives Matter movement.

The eight-year-old penalty stemmed from traders at the bank colluding with counterparts at other large banks to manipulate dollar and euro prices.

Banks and dissenting policymakers have raised the possibility of challenging regulators' Community Reinvestment Act overhaul in court, but it remains unclear whether they intend to walk the walk.

The U.K. Information Commissioner's Office concluded that the former chief executive officer of NatWest Group breached data-protection laws when she discussed the closure of former British politician Nigel Farage's bank account with a reporter. 

The Consumer Financial Protection Bureau found that more consumers are being charged late fees, while determining that the average cardholder carried $5,288 in total credit card debt last year.

The change would lower the maximum fee on a $50 debit transaction from 24.5 cents to 17.7 cents. The central bank points to lower processing costs for card issuers in recent years.

Rep. Andy Barr, R-Ky., a senior Republican on the House Financial Services Committee, said he intends to press Federal Reserve Chair Jerome Powell to refine the Basel III capital proposal before it is finalized.

Commonwealth Bank of Australia is examining how it can use generative artificial intelligence to simulate customers testing products, and U.S. Bancorp's Elavon unit receives a financial services license from the Bank of England.

The guidelines from the Fed, FDIC and OCC resemble proposals issued in recent years by each of the agencies, and they do not prohibit any specific activities. But the broadness of the directives and the singling out of climate risk drew criticism from banks and some policymakers.