Banktech/Fintech

The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.

New York extracted $5 million and a broker registration from Uphold over its promotion of CredEarn, a yield product whose issuer collapsed in 2020.

President and CEO Enrique Lores, who took the payment company's top job in March, is looking to turn the company around with fresh talent and a renewed focus on what he says are the company's fundamentals.

The card network, which reported earnings on Thursday, reports some early impacts on travel payments, and has set up a site to help customers with questions about changes in consumer and business spending habits.

Banks have publicly said they're on top of the risk presented by Anthropic's Claude Mythos, which can find and exploit software vulnerabilities at unprecedented speed. Experts aren't as sure.

Jerome Powell isn't Fed chair anymore, but he's staying on the board, which might be uncomfortable for his successor.

Schwab services 16,000 RIAs with 2,000 different fee structures. According to the industry's largest custodian, the exact costs come down to "a very personalized negotiation" with the firms.

The Spanish banking giant is seeing improvement in its U.S. business, which is set to expand significantly if its pending acquisition of Webster Financial gets approved.

Expenses and foreign exchange pressured Western Union; while Visa added more blockchains to its stablecoin settlement pilot. That and more in American Banker's global payments and fintech roundup.