OMB will release CDFI funding
The White House Office of Management and Budget will issue paperwork allowing the Treasury Department to disburse congressionally appropriated funds through the Community Development Financial Institutions Fund, breaking an impasse that has stalled funding for months.
FBI: Real estate cyberfraud rises with more AI, crypto scams
The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.
Reputational risk rule shows why subjectivity is so hard to ban
A rule banning bank examiners from using reputational risk in their examinations includes an exception for operational risks — another notoriously unquantifiable category of risk. Experts say the concession suggests the attempt to carve subjectivity out of bank examination may amount to a relabeling exercise.
The cost of being in the public eye rises
Banks are spending more on security for their executives, given the murder of UnitedHealthcare’s CEO; a new lender targets mineral-rights holders.
Energy prices drive up inflation by 0.9% in March
A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
A new regulatory era is opening the door to banking innovation
After a nearly two-decade long “ice age” in which few new banking charters were granted, regulators have shrugged off a zero-failure mentality and are allowing some risk back into the system.
Banks spend more on CEO security after 2024 slaying in NYC
Several major financial institutions last year increased their spending on measures to protect top executives, according to public filings. The moves followed the killing of UnitedHealthcare CEO Brian Thompson in December 2024.
‘Watershed moment’: Morgan Stanley enters bitcoin ETF race
The first U.S. bank to offer an exchange-traded product tied to bitcoin saw $34 million in trading on the first day.
New credit card will tap into borrowers’ fossil-fuel rights
Oil rights can be a surprisingly illiquid asset. A fintech called Frontlands is hoping to change that by offering a credit card for the owners of oil wells and other natural resources.
How Adyen is putting its banking licenses to work
The fintech rolled out Intelligent Money Movement, a treasury service that combines payments, liquidity management and disbursements as it looks to capitalize on its multiple banking licenses.