Trump’s immigration policy is pressuring remittances: Western Union
Western Union’s North American money transfer business logged a decline in cross-border remittance revenue, led by drops in the U.S. to Mexico corridor, its largest remittance stream by far. The company is also bracing for the 1% remittance tax codified in the “Big Beautiful Bill,” a levy that does not directly apply to banks.
Inside a sophisticated, foiled cyber-heist targeting ATMs
A threat group used physical implants and evasive malware to infiltrate ATM networks and attempt fraudulent withdrawals. Here are their tactics and techniques.
NYSE’s Martin says IPO market open for ‘pretty much all sectors’
Lynn Martin, NYSE’s president, said the surge in retail investment bodes well for overall market health.
How FIS is responding to the stablecoin wave
Unlike rival Fiserv, the bank technology company does not plan to issue its own coin immediately, but it does feel the lure of the broader digital asset market.
Mortgage lenders stick with Biden-era reappraisal guidance
President Trump and his administration have begun to scrap new mortgage lending guidelines that made it easier for home buyers and sellers to dispute property appraisals, finding that homes owned by racial minorities are routinely valued lower than comparable homes with white owners. But despite the promised regulatory relief, many mortgage lenders say the regulatory […]
Simmons Bank promotes new CEO as longtime leader retires
Jay Brogdon, currently president of the Arkansas bank, will take the helm at the beginning of next year.
UBS pays $300 million to settle Credit Suisse mortgage case
The bank is working through a list of legal issues it inherited when it bought Credit Suisse in early 2023.
Citi widens private credit net beyond Apollo deal with new role
The bank is hiring Aashish Dhakad from Ares Management Corp. to become head of private credit origination for North America.
CFPB calls GAO funding probe ‘political’ and ‘weaponized’
The Consumer Financial Protection Bureau sent a letter to the Government Accountability Office last week criticizing a probe into the bureau’s funding request for 2025, insisting that acting CFPB Director Russell Vought has “sole discretion” to determine funding and staffing levels.
Don’t scrap the CFPB. Turn it into the agency it was meant to be
Rather than deleting the Consumer Financial Protection Bureau, now is the time for the president and Congress to reform and reboot it into the agency that carries out its mission in an apolitical manner.