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With the passage of the bill, large banks are looking into their own stablecoins or partnering with the sector, while concerns linger about state regulation, the separation of banking and commerce and the disintermediation of the banking system.
3h ago -
Texting a password recovery link to a customer presents the risk of someone else taking over the account. Researchers found this happens somewhat frequently.
4h ago -
To reverse the trend in payments fraud, regulators and the private sector must work together to expand how we define verification. It must be a dynamic, intelligence-driven process embedded at every point of the payment journey.
9h ago -
The GENIUS Act, which will give the green light to banks interested in stablecoins, but which has also raised fears that it will disintermediate the banking system, passed the House today and heads to President Donald Trump's desk.
July 17 -
The Republican Freedom Caucus wants to combine the market structure bill with another measure prohibiting the formation of a Central Bank Digital Currency. That move could tank the market structure bill's chances of becoming law, and with it the banking industry's best chances of getting its priorities enacted.
July 16 -
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.
July 16 -
Supreme Court rulings and provisions in the recently passed budget bill are bolstering the legality of the administration's effort to fire more than 1,000 employees at the Consumer Financial Protection Bureau.
July 16 -
New research from American Banker finds that card and check fraud has gotten more problematic for bankers over time.
July 16 -
Lorie Logan, president of the Federal Reserve Bank of Dallas, said in a speech Wednesday that she is content to leave interest rates where they are, adding that she would want to see inflation fall to 2% before considering cuts.
July 16 -
Federal Reserve Gov. Michael Barr said Wednesday that policymakers are running the risk of repeating historical mistakes of lightening banking rules when the economy is doing well, which he said has often set the stage for financial crises later on.
July 16 -
Governments must reconsider policies that treat migrants sending money home as risks rather than contributors. Regulators should remove barriers to affordable transfers and enable innovation that puts people first.
July 16 -
Some last-minute drama has derailed planned votes on crypto and stablecoin in the House, but the political maneuvering isn't likely to improve the long list of criticisms that bankers have raised about the legislation before it heads to President Donald Trump's desk.
July 15 -
Government officials confirmed the California Democrat is under scrutiny over a long-held Maryland property he designated as a second home in 2020.
July 15 - AB - Policy & Regulation
Luke Pettit, a Senate Banking Committee staffer, will serve as the Treasury Department's next assistant secretary of financial institutions.
July 15 -
The Federal Reserve governor said the uptick in buy now pay later repayment issues is likely a sign that consumers don't understand the terms of the emerging credit offering.
July 15 -
President Trump and his lieutenants have been bullying Federal Reserve Chair Jerome Powell for months over the Fed's reluctance to lower interest rates. But even if that campaign is successful, the president may not really get what he wants.
July 15American Banker -
The agency unveiled several deregulatory measures at a Tuesday board meeting, including a measure to tie regulatory thresholds to inflation, one creating a supervisory appeals office that reports to the board and withdrawal of a Biden-era rule on industrial loan companies.
July 15 -
House Financial Services Committee Chairman French Hill promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau.
July 15 -
The Federal Reserve and Office of the Comptroller of the Currency terminated enforcement orders against Industry Bancshares and its subsidiaries. The banks were considered prime examples of interest rate risk management gone awry.
July 15 -
The Bureau of Labor Statistics said the consumer price index rose to 0.3% in June to an annualized rate of 2.7%, making the case to cut interest rates more difficult for the Federal Reserve to justify at its next meeting later this month.
July 15