Feds seize website used in massive crypto scheme
While banks welcome the “whole-of-government” approach that led the effort, private sector takedowns remain difficult without federal warrants.
Nubank co-founder Cristina Junqueira sets sights on US market
After two successful international expansions, Junqueira aims to bring Nubank’s products to U.S. consumers even as the neobank faces strong competition from U.S.-based banks and fintechs.
Bessent floats residency rule for regional Fed presidents
Treasury Secretary Scott Bessent said the Federal Reserve Board should reject the renomination of any regional Federal Reserve Bank presidents who have not lived in their districts for three years, signaling a potential confrontation when reappointments come before the board in February.
Europe’s bank-backed stablecoin; Ripple gets a win in Singapore
A group of European banks have formed Qivalis, which expects to launch its coin in early 2026 as a counter to the U.S. dollar-led market. Plus, Singapore regulators give Ripple permission to expand and other news in the global payments and fintech roundup.
RBC lifts its return target, downplays interest in US M&A
Royal Bank of Canada now expects to achieve an annual return on equity of at least 17% by 2027, executives said Wednesday, up one percentage point from the bank’s earlier goal.
Dems demand answers from Fed, Treasury amid penny shortage
In a sternly worded letter, Sen. Elizabeth Warren and Rep. Maxine Waters demanded to know why federal agencies haven’t provided more guidance since the one-cent coin was discontinued. They accused the Trump administration of making an “abrupt and unilateral decision” without thinking it through.
Here’s how to prevent AI from creating a ‘permanent underclass’
As artificial intelligence boosts productivity gains, there is a danger that additional profits will accrue only to investors, leaving workers in the dust. A “10% for the people” tax could allow everyone to share in AI’s benefits.
Agentic payments’ Field of Dreams moment
Companies such as Google, Visa and Mastercard are building a framework that will allow AI agents to shop and make payments. There are signs that consumers are warming to the idea.
Towne Mortgage hit with wave of data breach suits
The Troy, Michigan-based lender and servicer faces at least seven lawsuits over a hack in June allegedly perpetrated by a known ransomware gang.
Propel Holdings gets approval for bank in Puerto Rico
The Toronto-based loan fintech received an IFE license from Puerto Rico to launch Propel Bank.