DOJ quietly axes more redlining settlements with lenders
Opposition is growing to the Trump administration’s efforts to roll back fair lending requirements for lenders imposed by Biden-era prosecutors.
Many exporters no longer want dollars, US Bank exec says
Paula Comings, the head of currency sales for U.S. Bancorp, said American importers are hearing from their foreign counterparties that they no longer want to be paid in U.S. currency.
Amex plans ‘largest investment ever’ in credit-card refresh
American Express teased updates coming later this year to its travel-focused Platinum credit cards.
Trump remittance tax would spell trouble for banks
The 3.5% excise tax proposed in President Trump’s One Big Beautiful Bill comes with wide-ranging implications for financial institutions engaged in money transmission services.
What Amazon and Walmart can get from stablecoins
The retail giants are kicking the tires on their own currency. The potential prize is a way to reimagine prepaid cards and gain a key position as new forms of artificial intelligence-powered payments take off.
Virginia bank sells stake in doctor-focused fintech partner
Primis Bank plans to sell an undisclosed amount of its 19% ownership stake in Panacea Financial, a digital-only lender focusing on medical professionals and veterinarians. The deal should yield $22 million.
Carefull, Alzheimer’s Association create education campaign
The fintech and nonprofit join others, including AARP and the ICBA, in working to raise awareness of the financial risks of Alzheimer’s and dementia.
Midsize companies see opportunities amid tariff chaos
The impact of President Trump’s tariffs is the top concern for most middle-market American businesses, a new KeyBank survey found. But these firms also view the scrambled landscape as a chance to innovate and restructure.
Fed bans Arkansas banker; Pennsylvania credit unions to join
The Federal Reserve Board banned a former relationship banker in Arkansas after he was caught stealing customer funds; Benchmark Federal Credit Union plans to merge with Franklin Mint Federal Credit Union to form a $2.1 billion-asset institution; Robin Vince, CEO of Bank of New York Mellon since 2022, has been elected chairman of the board; […]
PNC wins appeal of USAA’s mobile deposit patent lawsuit
In USAA’s battle with banks over mobile deposit technology, which it says it invented, a bank has scored a rare victory.