Policy uncertainty still looms for bankers and investors
Panelists speaking at American Banker’s Most Powerful Women in Banking conference said they appreciate the deregulatory efforts under way under Trump, but said clarity on tariffs and rules of the road for emerging technologies would unlock future growth.
Revolut, SumUp make moves in Mexico
Revolut receives a banking license, while SumUp introduces its payments hardware. That and more in the American Banker global payments and fintech roundup.
DOJ opposes CFPB union’s request for rehearing on firings
The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union’s appeal of an August DC Circuit ruling allowing the administration to fire up to 90% of the agency’s workforce.
Raising the deposit insurance cap would benefit Main Street America
A proposal before Congress to raise the federal deposit insurance cap to $10 million for non-interest-bearing business accounts would help community banks continue recycling deposits into local lending.
Organizers eye February opening for Atlanta-area de novo
The president of the planned Georgia Skyline Bank says he’s cautiously optimistic that his group can raise $35 million of startup capital in time for an opening early next year.
Banks weigh ‘contradictory’ orders on antifa, debanking
The Trump administration has ordered banking agencies to root out and identify instances of politically-motivated debanking while at the same time raising pressure on banks to scrutinize or potentially sever their ties with liberal nonprofit clients. That dynamic creates a compliance puzzle with no obvious answers, experts say.
Citi exec has no regrets after new card sparks complaints
Some customers reportedly complained about getting locked out of their accounts after signing up for the bank’s new Strata Elite credit card. “We feel like we have done the right thing for all of our good customers,” Pam Habner, Citi’s head of U.S. branded cards, said Tuesday.
Capital One delivers earnings beat as it digests Discover
The McClean, Virginia-based bank said Tuesday that credit quality remained strong in the third quarter, and that it has approved a plan to buy back $16 billion of common stock.
How banks are finding business use cases for stablecoins
Speakers at the Most Powerful Women in Banking conference Tuesday shared several scenarios in which banks will benefit from dollar-pegged cryptocurrency.
BofA treating gov’t. shutdown like natural disaster: CEO
Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association’s annual convention.