Fed to adopt wait and see approach on interest rates
Fed Chair Jerome Powell, speaking at a press conference after the December FOMC meeting, said the central bank is holding interest rates steady until it gets more clarity on the economy.
PNC launches direct crypto trading through Coinbase
PNC is one of the first major banks to offer bitcoin trading services directly to eligible private client accounts in a limited launch with Coinbase.
Wells Fargo’s CEO calls out ‘subpar’ home lending returns
Charlie Scharf has a mostly optimistic take on Wells’ consumer banking prospects entering 2026. But he’s more downbeat about the company’s once-dominant residential mortgage business.
House weighs finance AI sandbox
The House Financial Services Committee discussed allowing banks to experiment with artificial intelligence with a waiver from regulatory penalties, including consumer protection laws, in a hearing.
US charges alleged Russian hacktivist targeting banks
The DOJ says the Ukrainian national helped coordinate Russian state-sponsored DDoS attacks against banks internationally.
CFPB to issue “interim” final rule on 1033 open banking
The Consumer Financial Protection Bureau plans to issue an interim final rule soon on consumer financial data rights because the agency expects to run out of money by Dec. 31.
Mastercard, Visa bolster cross-border pay; Worldline sheds more units
The card networks entered separate partnerships to tap the remittance market, while the French payment company continued its turnaround strategy following regulatory and economic challenges.
OCC says banks limited ties to controversial sectors
Pornographers, private-prison operators and digital-asset firms were among the industries that major banks curbed ties with over moral or reputational concerns, according to the Office of the Comptroller of the Currency’s preliminary findings in its “debanking” probe launched earlier this year.
Exclusive: Bipartisan bill would boost SEC small business info collection
A new bill from Sens. Katie Britt, R-Ala., and Catherine Cortez Masto, D-Nev., would streamline the Securities and Exchange Commission’s small business surveys, which the agency uses to consider the needs of small businesses in rulemakings.
Regulators need to provide banks with clarity around AI adoption
Banks are struggling to integrate artificial intelligence into their operations, and one of the major stumbling blocks is regulatory uncertainty. Supervisors need to set clear rules of the road as soon as possible.