Like the Olympics, the event is used to push and measure engagement and appetite for emerging checkout options.
The Treasury's Financial Crimes Enforcement Network and federal banking and credit union agencies limited issuers' know-your-customer obligations to direct-to-consumer services, preliminarily rejecting a "global" customer due diligence requirement they say is unfeasible.
The bank is following in the footsteps of Goldman Sachs, which made a similar move in April.
A potential deletion from a long-standing regulatory definition has banks questioning how to classify vast swaths of their lending books.
At least nine Dallas-area institutions have agreed to sell themselves since late 2024, with the Oklahoma City-based MidFirst Bank's deal for Dallas Capital marking the latest transaction.
As the capital rule's comment period closes, some experts express concern about proposed changes that may impact nonbanks reliant on warehouse financing.
