In global news this week, the EU wants to update open-banking rules, India plans a crackdown on domestic banks' outsourcing, LianLian in China launches a cross-border wallet for U.S. merchants, and more.
Here's what's happening around the world.
The Federal Deposit Insurance Corp. is navigating widespread layoffs and policy changes amid a government-wide overhaul. What does it mean for the industry?
Unemployment remained relatively stable amid declining consumer confidence and an emerging trade war, which have roiled markets.
The Suffolk, Virginia-based bank has agreed to pay more than $200 million for Old Point Financial in Hampton. It announced the deal just two days after its previous acquisition closed.
As the risk of a recession rises, commercial real estate loans remain a major concern for banks and industry participants. One observer asked: "Is '25 the year where sellers start to capitulate, call a loser a loser, and move on?"
President Trump's tariffs on imported vehicles threaten to drive up auto prices at a time when more car owners are already drifting into delinquency on their loans.
Fears of a recession intensified after President Trump unveiled his plan to impose a minimum 10% tariff on all U.S. imports, and the KBW Nasdaq Bank Index tumbled by nearly 10%.