The Senate’s stablecoin bill risks repeating past legislative mistakes
The GENIUS Act, in its current form, fails to account for the substantial risk of stablecoin runs and blocks regulators from imposing necessary oversight. It also lacks measures to prevent their use in illicit transactions.
Former Fed vice chair Stanley Fischer dies at 81
Fischer, who served on the central bank boards of both Israel and the United States and served as the Federal Reserve vice chair from 2014 until 2017, died Saturday at age 81.
‘Make the bold move’: Anchorage CEO to banks
Nathan McCauley told bankers now is the right time to get in on cryptocurrency.
Fed’s Waller backs change to ‘dot plot’ economic outlook
Federal Reserve Gov. Christopher Waller said changes to the Federal Open Market Committee’s quarterly economic projections could lead to clearer communication with markets and market participants.
Circle, backers seek $896 million after boosting IPO size
The stablecoin issuer and some of its backers are now offering 32 million shares at a price range of $27 to $28 each, suggesting strong investor demand for the stock.
Net charge-off ratio at 15 largest US banks in Q1
The 15 largest banks had an average NCO ratio of 0.66% in the first quarter.
CFPB, bank lobby ask court to strike down open banking rule
The Consumer Financial Protection Bureau and Bank Policy Institute filed twin motions for summary judgement to strike down a 2024 agency rule for being arbitrary and capricious and exceeding statutory authority.
Dimon says retirement from JPMorgan is ‘several years away’
The question of when the CEO would retire and who might succeed him has hung over JPMorganChase for years.
A one-two punch of bad policy ideas threatens financial stability
A new stablecoin bill threatens to balloon federal borrowing and increase the deficit, while a change to bank capital rules would vest the Treasury with power that should rest with the Federal Reserve.
Wearable payment tech is growing. What banks need to know
Using watches, wristbands and other accessories at the point of sale is set for a boom, pressuring financial institutions to develop a strategy for the banking tech.