A banker’s guide to the Senate crypto bill
Stablecoin yield is expected to continue to be a flashpoint as bank groups look for a blanket ban on crypto exchanges and other nonbanks offering yield-like rewards for holding crypto.
Bank CEOs warn rate cap would have ‘unintended consequences’
A week after President Trump demanded a 10% cap on credit card interest rates, top executives at big banks protested the idea in blunt terms.
Klarna adds to payments menu; BofE gets heat on stablecoin limits
The Swedish financial institution adds P2P payments as it tries to bolster its neobank aspirations. Payment firms don’t like the U.K.’s potential restrictions on stablecoins and more in the American Banker global payments and fintech roundup.
Fed’s Miran dismisses inflation fears tied to Powell probe
Federal Reserve Gov. Stephen Miran said he doesn’t “really buy” the view that a potential indictment of Fed Chair Jerome Powell would affect the central bank’s monetary policy.
Cybersecurity, fraud attacks may cause systemic risk in 2026
Defenses against financial schemes, both physical and digital, could leave executives scrambling to keep up with the pace of bad actors over the coming months.
Two-hour outage hits Monzo banking services
Customers reported failed subscription payments and support issues, though a backup system kept some basic functionality online.
Fifth Third, Comerica plan to close $10.9B merger on Feb. 1
The Federal Reserve announced it had approved the merger, marking the final regulatory hurdle the banks needed to clear. But a lawsuit seeking to stop the deal is still ongoing.
Citi’s profits fall as it gets closer to exiting Russia
The megabank’s net income declined by 13% during the fourth quarter as a result of a $1.2 billion pre-tax loss on sale related to the divestiture of its remaining operations in Russia.
Strong consumer results push Wells Fargo profits higher
The San Francisco-based banking giant reported solid gains in credit card and auto lending as credit remained in check and quarterly operating costs declined from a year ago.
Trump’s CCCA boost is misguided; the bill would harm military families
The heads of two associations representing military-serving financial institutions argue that the Credit Card Competition Act, as well as the president’s demand for credit card rate cuts, would harm troops by reducing access to credit.