Finastra accelerates its global push with new offices
The bank technology company is adding offices in the U.S. and India as part of its quest to reach clients outside of its U.K. home base.
Fed seeks public input on ‘skinny’ master account concept
The Federal Reserve Board voted 6-1 on Friday to seek public comment on a proposed “skinny” master account.
Travis Hill confirmed as FDIC chair
The Senate confirmed Travis Hill as the chairman of the Federal Deposit Insurance Corp. as part of a slate of nominations that were approved late Thursday. Hill has been serving as acting FDIC Chair since January.
AI won’t break financial markets, but it might make them boring
Once artificial intelligence has eliminated all the human-driven volatility from financial markets, will there even be a reason to trade anymore?
Citi exits 2024 enforcement action
The megabank cleared a regulatory hurdle when the Office of the Comptroller of the Currency freed it from a July 2024 amendment to a consent order. Two other orders, one from the OCC and the other from the Federal Reserve, remain in place.
Stripe’s agentic play; Google doubles down on India
The payment fintech is marketing technology that lets merchants sell through AI agents; Google adds a credit card for India’s national real-time payment rail. That and more in American Banker’s global payments and fintech roundup.
Comerica gives fuller account of Fifth Third deal talks
The Dallas bank turned down another offer because it thought it could get a higher price from Fifth Third, and also could ink an agreement faster, according to Comerica’s latest regulatory filing.
Trump directs DEA to reschedule cannabis
Moving cannabis from a Schedule I to a Schedule III drug would not legalize cannabis or remove all barriers to cannabis banking, but it would allow operators to write off expenses, increase cannabis customer cash flow and eligibility for favorable loans.
Fed rescinds Biden-era crypto guidance
The Federal Reserve said in a statement that its “understanding of innovation products and services have evolved” since the initial guidance was published in 2023.
CVB in SoCal strikes deal to boost Bay Area presence
The merger with Heritage Financial joins two commercially focused banks, creating a $21.7 billion-asset institution with a presence in all of the Golden State’s major markets.