Want to move on from banking? Build ‘portable skills’
At American Banker’s Most Powerful Women in Banking Conference in New York City, former Most Powerful Women in Banking honorees said to build skills that you can take with you outside of a big bank, and that banks should reward risk-taking and building over incremental change.
New York says banks are responsible for vendors’ cyber risk
New guidance outlines specific due diligence and oversight steps banks must take, reinforcing that they are ultimately accountable for vendor failures.
Waller proposes creation of ‘skinny’ master account
Federal Reserve Gov. Christopher Waller has directed central bank staff to explore the concept of a limited payment account, which would give nonbank entities in the payments space — including crypto firms — access to traditional payment systems.
Senate Republicans propose raising SAR threshold to $30K
Senate Banking Committee Republicans, led by committee chair Tim Scott, R-S.C., introduced a bill that would raise the mandatory reporting threshold for certain currency transactions, a move meant to ease banks’ anti-money laundering compliance obligations.
Why some banks are saying yes to stablecoins, and others are saying no
Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.
Warren calls on FDIC to again pause ILC approvals
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is urging the Federal Deposit Insurance Corp. not to approve new Industrial Loan Company charters until Congress passes a law subjecting ILCs to bank holding company rules.
Our industry is obliged to foster customers’ financial resilience
Financial services firms have a responsibility to help more people — especially younger generations — navigate an increasingly complex financial landscape with clarity, confidence and optimism.
Inside Paxos and Aleo’s ‘stablecoin salaries’
The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it’s unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.
Zions is ‘confident’ in credit despite Wall Street battering
Following a $60 million credit hit, the Salt Lake City bank said that it hasn’t found any other related problem loans.
Two Illinois community banks agree to merge in $170M deal
The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.