Banks gain amid software stock rout, despite credit questions
Artificial intelligence developments are stoking investor fears about software companies. Banks’ limited exposure to the sector and general stability is proving attractive to investors.
Betterment data breach exposes 1.4 million customers
Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment’s own systems.
FDIC Extends Comment Period on Proposal to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins
PRESS RELEASE | FEBRUARY 6, 2026 FDIC Extends Comment Period on Proposal to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced a 90-day extension to the comment period on the agency’s notice of proposed rulemaking (NPR) that would implement the […]
Prosperity completes 2nd of 3 Texas M&A deals
Prosperity Bancshares finalizes the second of three acquisitions it’s announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week’s banking news roundup.
Fed’s Jefferson wary of inflationary pressure from AI
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
Fed ‘skinny accounts’ take early heat from crypto, fintechs
Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed “skinny” master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.
The future of palm payments after Amazon’s pullback
While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.
Visa takes a fresh crack at China’s elusive payments market
By pairing its real-time transfer app with China’s UnionPay card, Visa is pursuing business in the huge country, where shifting regulations create hurdles for outside companies.
ICE reports strongest mortgage revenue in over 3 years
The mortgage technology unit at Intercontinental Exchange posted a profit for the third straight quarter, even as lower minimums among renewals capped growth.
Exclusive: Warren targets narrowed bank risk oversight proposal
A group of Senate Democratic lawmakers warn proposed rule change would handcuff regulators from stopping risky bank behavior before it causes financial harm.