Brokered deposit bills fly through HFSC
A bill on reciprocal deposits passed the committee unanimously, while another measure on custodial deposits passed by a wide, bipartisan margin.
PayPal’s P2P upgrade has a crypto kicker
The payment company has made a series of moves to bolster its stablecoin and other coins to build a market for digital assets. Its Links feature adds to the strategy.
Santander’s Openbank launches crypto trading for retail clients
Starting Tuesday, the Spanish bank is allowing retail clients in Germany to trade Bitcoin, Ether, Litecoin, Polygon and Cardano. Openbank will expand the number of available tokens over the coming months.
SEC charges leader of $770 million ATM-centered Ponzi scheme
Prosecutors say Daryl Heller lured 2,700 investors with promises of safe ATM profits but misappropriated $185 million.
What banks need to know about Google’s AI agent protocol
Google has launched its Agent Payments Protocol, an open protocol that establishes a payment-agnostic framework for users, merchants and payments in agentic AI. Payment companies such as Adyen, American Express, Mastercard and PayPal helped develop the protocol.
Senate Democrats urge regulators to rethink CRA reversal
A group of Democratic Senators led by Elizabeth Warren, D-Mass., urged regulators to keep the 2023 Community Reinvestment Act overhaul, saying the rule was carefully crafted with bipartisan input.
JPMorganChase reaches deal to charge Plaid for customer data
The companies have signed a new data-sharing agreement that includes an undisclosed pricing structure. Plaid said it will not pass the new costs on to its clients.
Revolut touts $1.4 billion revenue haul, eyes U.S. market
The global fintech has said it will invest more than $500 million in the US in the coming years, and it expects to create hundreds of jobs.
More capital or a new HQ? Here are UBS’s options in Swiss standoff
The bank’s senior leadership is seeking a solution to perhaps its biggest challenge in over a decade: A $26 billion increase in capital requirements leveled by its home government, Switzerland.
Text message-based ID verification is now an open door for fraudsters
SMS-based multifactor authentication is now so badly compromised that it has become a major vector for fraud. But there’s a potential solution, and it’s in every bank customer’s pocket.