BankThink
The recently announced consortium of crypto companies behind OpenUSD, a new dollar-denominated stablecoin, will have to demonstrate that it can build partnerships with banks and intermediaries before it can challenge USDC and Tether.
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Investors in a panic about private credit valuations need to draw a distinction between funds backing AI-threatened software companies and those whose collateral includes the hard assets of frontier AI companies themselves.
July 16
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As written, new capital standards for U.S. banks fail to account for the additional risk posed by many home loan clients who obtain second mortgages. Fixing the problem will significantly reduce the rule's benefit to banks.
July 15
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The only thing we know about the next financial crisis is that it won't look like the last one. But specific changes to bank safety and soundness requirements and clearer regulatory authorities would help us respond.
July 14
Bovenzi Group -
In the U.S., bankers are used to prescriptive rulemaking, and without it they seem uncertain about how to move forward with AI. Europe tried writing prescriptive AI rules, and they were a disaster. Now nobody knows how to move forward.
July 13
Three former senior enforcement officials at the Consumer Financial Protection Bureau have launched Halperin Petersen & Mikkilineni LLP, a new public interest law firm; Ally Financial taps Mark Mathewson as chief information and data officer; Provident Bank names Anthony Petrazzuoli SVP, deposits & payments operations director; and more in this week's banking news roundup.
Anthropic appoints Former Federal Reserve Chair Ben Bernanke to its long-term benefit trust, JPMorganChase signs a multiyear agreement to be the official jersey patch and banking partner of the Dallas Mavericks, Brazil-based Nubank receives full regulatory approval to open Nu Mexico, and more in this week's banking news roundup.
JD Power's closely watched survey of financial advisors' satisfaction with employee and independent brokerages crowned its perennial winners, with one interesting exception.
The crypto companies that have recently received national trust bank charters hold 100% reserves and thus are lower risk than traditional banks that hold fractional reserves, Mike Belshe argues.
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