Why Cash App ventured into nonprofit payments
Block’s transfer service partnered with fundraising and donor management platform Givebutter for philanthropic payments in an effort to capture even more young consumers’ payment volume.
Huntington Bank’s plan to obtain a return on gen AI
The Ohio bank sees 10% to 15% cost reductions coming from using generative AI in software development, customer service, personalization and other areas.
Inside U.S. Bank’s tariff payments strategy
The bank is selling a bundle of products that enable businesses to store global currencies inside the U.S. in FDIC-insured accounts, lowering foreign exchange risk and reliance on third parties.
CFPB warns staff of upcoming layoffs due to GOP funding cuts
The Consumer Financial Protection Bureau has notified employees of an upcoming reduction in force after its budget was cut in half by the president’s recently-passed tax and budget bill.
Trump appeals ruling allowing Fed Gov. Cook to remain
The White House has appealed a DC District Court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board pending the outcome of her challenge to President Trump’s moves to fire her.
Inflation creeps higher in August, amid looming rate cut
Consumer prices rose 0.4% in August, up from 0.2% in July, as weak job growth and lingering tariff uncertainty reinforce expectations for a September Fed rate cut.
Crypto custody services could be banks’ next revenue stream
Noelle Acheson points out that crypto custody is about more than incorporating new assets into an established service; it’s about reshaping how we see standard financial concepts and using the resulting innovations to rethink client relationships.
Experts: Pulte’s disclosures on Cook may violate privacy law
Bill Pulte, director of the Federal Housing Finance Agency, may have violated federal privacy laws by releasing personal information on mortgages taken out by Federal Reserve Gov. Lisa Cook — actions that served as a basis for President Trump’s efforts to remove her from office late last month.
The promise and perils of QR codes in banking
From FedNow to Venmo, banks are tapping QR codes for speed and security. Scammers are also exploiting the blind trust they elicit.
Fifth Third borrower goes bankrupt after bank takes big loss
Tricolor Holdings had been showing some cracks leading up to its bankruptcy filing Wednesday. Fifth Third, which had funded the company, said that the problem is a “one-off.”