Fed paper flags ‘underappreciated’ risks of private credit
As private credit tops $1 trillion, Fed researchers warn bank exposure to the sector could spark systemic risk if defaults spike.
Dailey to retire from PNC Bank; Funk named as successor
Samantha Funk will step up as new head of public finance at PNC after Rob Dailey retires at the end of July.
New partnership helps banks flag fraud on Google
Whether in fake ads or misleading documents, anywhere fraud might be happening on Google, banks have a new way to quickly shut it down.
Lead Bank CEO calls debanking ‘a fiction’ at fintech summit
Jackie Reses stirred debate by dismissing debanking as largely fictional during a Tuesday summit attended by many crypto-focused fintechs.
Trump says tax bill ‘close’ as holdouts threaten to sink it
President Trump said his massive tax package is close to being finalized, but the White House has yet to win over a faction who want more spending cuts.
Citizens brings commercial customers into open banking API
Citizens reduced screen-scraping 95% through application programming interfaces. Now it’s extending them to business accounts.
JPMorgan, BBVA make fresh bets on AI payments strategies
The Spanish bank is integrating machine learning with cards, payments, financial management, savings and other products, while the American banking giant is assessing risk for business transactions. Plus: The CFPB eases a consent order on Wise.
PNC to acquire Aqueduct, expand private equity fundraising
The Pittsburgh bank is absorbing broker-dealer Aqueduct Capital Group into its investment banking unit, Harris Williams.
What banks should expect with Trump tax bill back on track
President Donald Trump is making progress with tariffs and his tax and spending bill after a brief stumble earlier this month.
Democrats can be both pro-crypto and and anti-corruption
Everyone should be concerned that the sitting president and his family are using crypto for political advantage and personal financial gain. Democrats can call out crypto grifters while supporting sensible policy.