How Stripe’s stablecoin techs boost its power to disrupt banks
The payments company has used an acquisition of digital asset firm Bridge to gain ground, reminiscent of how fintechs have honed in on banks’ payment turf for years.
House Republicans call for ‘cross-Congress’ effort on financial fraud
Bankers face a “critical limitation” due to the vast number of oversight agencies and institutions, like social media companies and telecom institutions, that a fraudster might touch on their way to scam a consumer.
Fed kicks two bank employees out of the industry for crimes
Former employees at First Horizon Bank and M&T Bank committed crimes by misappropriating customer data and stealing money from a customer’s bank account.
Former banker fraudulently loans $3M to lumberman
Alan Childs pleaded guilty to using straw borrowers and falsified loan records to help a timber businessman secure millions in fraudulent loans.
BMO taps another ex-Fifth Third executive to serve as CFO
The Toronto-based bank named Rahul Nalgirkar as incoming finance chief. Nalgirkar, who joined BMO in 2022 from Fifth Third, will succeed the retiring Tayfun Tuzun, who came to BMO in 2020 after working at Fifth Third.
OCC reverts to tiered bank supervision, reversing earlier move
The Office of the Comptroller of the Currency will announce Senior staffers overseeing large, regional and community banks early next month, apparently reversing the unified approach to supervision it implemented earlier in the year.
How M&T Bank ensures data quality as it implements gen AI
Andrew Foster, the bank’s chief data officer, explained how he has been instilling data discipline across the organization and making the bank’s data AI-ready.
Stablecoins will disrupt payments, just not in the way you think
Stablecoins don’t compete with payment platforms. They do, however, provide a turbo-powered springboard for new projects that will, just as incumbents are adapting to the new tools.
How the Trump administration has neutralized the CFPB
Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
The new rules of financial wellness
Post Content