Fed tells banks to get permission before offering stablecoin services
The Federal Reserve has outlined the process state member banks must follow before issuing, redeeming or holding stablecoins. The agency also says it will create an examination process to monitor novel activities.
Regions’ latest treasury management tool: integrated communications
The Alabama bank is rolling out an online platform for corporate clients to manage billing-related communications with their own customers.
Credit-rating downgrades could mean higher costs for banks
Moody’s said higher funding costs, a potential decline in bank capital and growing risk in the commercial real-estate industry prompted many of the downgrades.
PayPal’s stablecoin launch has Washington’s attention
The payment giant’s entry into the stablecoin market is expected to renew the debate over the appropriate regulatory oversight for digital tokens. It could also have ripple effects in areas such as the debate over instant payments.
Warren presses Goldman Sachs on Silicon Valley Bank dual role
Goldman Sachs told Sen. Elizabeth Warren, D-Mass., that it made $60 million on the purchase and sale of part of Silicon Valley Bank’s loan portfolio.
How fraudsters are exploiting and retraining large language models
The release of two malicious language models — WormGPT and FraudGPT — demonstrate attackers’ evolving capability to harness language models for criminal activities.
Banks’ credit downgrades doesn’t mean the sky is falling — but it can still fall
Moody’s decision to downgrade some banks’ bond ratings isn’t great news, but life will go on. The bigger and more difficult problem is shoring up U.S. sovereign debt ratings in the long-term.
Why many of the biggest credit unions saw earnings fall this summer
Seven of the 11 largest credit unions in the country by assets experienced a year-over-year drop in earnings in the second quarter, with increased deposit costs being a primary culprit.
Here’s why bank M&A could thaw in 2024
Bankers say regulatory burden, rising costs and intensifying competition will reignite a drive for scale and spur dealmaking provided interest rates level off and the economic outlook improves.
Credit card balances hit $1 trillion. Here’s why bankers remain upbeat.
U.S. consumers set a new record during the second quarter, as card debt reached $1.03 trillion. Bankers say a healthy job market has allowed consumers to keep making their monthly payments, but they’re also on guard about the impact of the upcoming resumption of federal student loan payments.