Wells Fargo scraps diversity policy for senior-level recruitment
Wells Fargo joins Bank of America, Citi and Charles Schwab in stepping away from its DEI policies.
Trump says Canada and Mexico tariffs ready, adds China duty
President Donald Trump’s 25% tariffs on Canada and Mexico are on track to go into place on Tuesday and he plans to impose an additional 10% tax on Chinese imports, moves that would deepen his fight with the nation’s largest trading partners.
Exclusive: Flexa launches crypto tap-to-pay, no app required
Flexa’s new tap-to-pay function is the first cryptocurrency contactless payment option that does not require an app or the internet to function.
State banking advocate: Consolidation would hurt small banks
Brandon Milhorn warned that merging federal bank regulators would weaken state oversight, harm community banks, and erode the diverse perspectives in finance.
Fed’s Barr: banks can and do serve crypto customers
The Federal Reserve’s outgoing vice chair for supervision touted a “culture of curiosity” among the central bank’s supervisors, but said it is a challenge to balance responsibility and innovation.
Crypto debanking, Musk’s DOGE: Top tech news February 2025
Read more about cryptocurrency players struggling to access banking services and Elon Musk’s weaponization of the Department of Government Efficiency.
BNY to give employees advanced version of OpenAI’s ChatGPT
The New York bank will integrate ChatGPT Enterprise with its existing large language model framework, Eliza.
How regulators, banks and fintechs can prevent another Synapse
Partnerships between innovative banks and fintechs must adopt a “shared responsibility” model for the safety and soundness of the partnership.
Exclusive: Rep. Barr offers bills to curb CFPB powers
Rep. Andy Barr, R-Ky., is introducing a bill limiting the Consumer Financial Protection Bureau’s unfair, deceptive or abusive acts and practices authority and another limiting its ability to issue investigative subpoenas.
Synapse failure reveals regulators’ BaaS blind spots
Regulators need to consider the risk and complexity of a BaaS companies and connect the dots to bank safety and soundness and consumer protection.