Regulation

The card network is making a digital wallet push following the Digital Markets Act, which dilutes Apple's control over mobile payments technology.

While banks welcome the "whole-of-government" approach that led the effort, private sector takedowns remain difficult without federal warrants.

New guidance from the Office of the Comptroller of the Currency released Monday afternoon would streamline Bank Secrecy Act exams for community banks. The agency issued a separate request for information on consolidation and contracting power among core service providers.

The Federal Reserve played a behind-the-scenes role in facilitating the sale of PacWest Bancorp, providing an enticement to private-equity interests to make a deal happen, according to agency records and recent comments by a prominent banking lawyer.

Kunal Mehta, also known by the alias "Shrek," used shell companies and bulk cash drops to clean millions for a cybercrime ring that stole $263 million.

The company appears to be the first nationally chartered bank to offer crypto trading and traditional banking in the same app.

The megabank is cooperating with a government request for information related to how it decides which customers to bank. It is the second large U.S. bank — along with Bank of America — to disclose such a probe.

Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.

The U.K. bank's "Scam Intelligence" tool uses Google's Gemini to analyze images and texts for red flags, aiming to reduce losses from authorized push payment fraud.

Capital One, PNC, Truist and, U.S. Bancorp are urging regulators to cut duplicative calculations and align U.S. rules with global standards, a longstanding preference for banks but one that will likely find a warm reception from a deregulation-focused Trump administration.