Economy adds 64,000 jobs after October drop; Unemployment up
The Bureau of Labor Statistics Tuesday reported that the economy added 64,000 jobs in November after posting a loss of 105,000 jobs in October, which was largely attributable to the onset of the government’s deferred resignation program. Unemployment also ticked up to 4.6% from 4.4% in November.
FDIC proposes process for banks to issue stablecoins
The Federal Deposit Insurance Corp. issued a proposal setting application criteria for banks to issue stablecoins and sets a strict timeline under which banks may have their applications reviewed. The agency also reduced deposit insurance assessments for banks and slashed its 2026 proposed budget at a board meeting Tuesday morning.
ICBA’s support of higher FDIC coverage is a gift to credit unions
Two former chairmen of the Independent Community Bankers of America take issue with the trade group’s decision to support legislation that would dramatically increase federal deposit insurance levels.
26 people who will change banking in 2026
These are the executives, regulators, investors, disruptors and firebrands who will have the biggest impact on bankers in the coming year.
Report: Global nonbank sector surged in 2024
A new report from the Basel, Switzerland-based Financial Stability Board found that nonbank financial institutions grew considerably faster than banks in 2024 and now control more than half of the world’s financial assets.
PayPal eyes industrial loan charter
The payments company submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. to create PayPal Bank. If approved, Mara McNeill, the former president and CEO of Toyota Financial Savings Bank, will serve as PayPal Bank’s president.
Las Vegas bank hopes gaming platform brings deposit haul
GBank will serve as the bank partner for a cashless slot machine betting app that is looking to expand nationwide after getting a key regulatory approval in Nevada.
Bots and gift card theft drive holiday fraud surge
New data shows a 21% jump in fraud attempts during Thanksgiving week, with automated bots and credential stuffing leading the charge.
How OMB Bank became a fintech sponsor bank
The small Missouri community bank partnered with embedded banking provider Treasury Prime to connect with fintechs and signed on its first sponsoree earlier this year.
To stop scammers, banks should offer dual approval of transactions
As AI makes financial scams more and more convincing, banks would do customers a real service by allowing them to opt in to dual approval of transactions above certain dollar limits.