US charges alleged Russian hacktivist targeting banks
The DOJ says the Ukrainian national helped coordinate Russian state-sponsored DDoS attacks against banks internationally.
House weighs finance AI sandbox
The House Financial Services Committee discussed allowing banks to experiment with artificial intelligence with a waiver from regulatory penalties, including consumer protection laws, in a hearing.
Mastercard, Visa bolster cross-border pay; Worldline sheds more units
The card networks entered separate partnerships to tap the remittance market, while the French payment company continued its turnaround strategy following regulatory and economic challenges.
CFPB to issue “interim” final rule on 1033 open banking
The Consumer Financial Protection Bureau plans to issue an interim final rule soon on consumer financial data rights because the agency expects to run out of money by Dec. 31.
OCC says banks limited ties to controversial sectors
Pornographers, private-prison operators and digital-asset firms were among the industries that major banks curbed ties with over moral or reputational concerns, according to the Office of the Comptroller of the Currency’s preliminary findings in its “debanking” probe launched earlier this year.
Fifth Third stakes claim in agentic payments with Brex
Brex is powering Fifth Third’s commercial card issuance in a move that boosts the fintech’s distribution network and provides the bank with a more competitive commercial card proposition.
Regulators need to provide banks with clarity around AI adoption
Banks are struggling to integrate artificial intelligence into their operations, and one of the major stumbling blocks is regulatory uncertainty. Supervisors need to set clear rules of the road as soon as possible.
Exclusive: Bipartisan bill would boost SEC small business info collection
A new bill from Sens. Katie Britt, R-Ala., and Catherine Cortez Masto, D-Nev., would streamline the Securities and Exchange Commission’s small business surveys, which the agency uses to consider the needs of small businesses in rulemakings.
Sallie Mae’s subdued earnings forecast puzzles investors
The student lending giant offered forecasts of future earnings that were far below Wall Street’s expectations. In recent months, Sallie Mae has been upbeat about the new opportunities it sees under the Trump administration.
As NMI enters embedded lending, it faces a crowded market
PayPal and other fintechs already offer small business loans based on future payment flows, creating a competitive market.