Senate Banking Republicans want answers from Fed on CSI leak
In a letter to Federal Reserve Chair Jerome Powell, 10 members of the committee demanded answers about how supervisory information was made public.
Community banks warn about rates, economy and capital rules
Lenders at an American Bankers Association conference this week railed against proposed regulatory requirements they argue could drive up costs, curb credit availability and ultimately hurt borrowers in already fragile economic times.
USAA wins another remote-deposit patent victory, this time over Truist
Truist Bank has agreed to pay licensing fees to USAA for the use of mobile-check-deposit technology that USAA says it invented.
Bank of America’s wrong-way rate bet hurts Moynihan’s growth pledge
The biggest laggard among the US banking giants, BofA’s investments earn less than its closest rivals, and the stock is the group’s worst performer by far.
PayPal’s stablecoin: Who are the early adopters?
PYUSD has been slow out of the gate, but crypto firm BitPay and gaming company Xsolla are providing an early look at how the asset can be used.
HSBC buys Citi’s $3.6 billion China retail assets in expansion
The sale is part of a wind-down of Citi’s consumer banking business in China, which was announced in December 2022.
Merchants shouldn’t count on the CCCA to meaningfully lower their costs
The promises made by supporters of the Credit Card Competition Act don’t account for all of the ways in which it could actually increase the cost of doing business.
Jefferson says Fed can proceed carefully, mindful of yield rise
In spite of rising borrowing costs, the US economy has shown surprising resilience. The labor market added 336,000 jobs in September, according to fresh data published Friday.
How buy now/pay later fintechs are reframing consumer credit
The addition of branded debit cards is bringing BNPL fintechs’ products closer to traditional credit cards, both in terms of consumer perception and the fees the cards generate.
U.S. banks need TARP 2.0: A trapped asset relief program
The Fed’s meteoric increase in the federal funds rate over the last 18 months has left banks holding billions in unproductive investment securities. Helping them would be good for the economy.