Employees expect CFPB to terminate all enforcement actions
The embattled regulator has dropped more than half its Biden-era docket, including cases against Apple and U.S. Bank. But insiders at the bureau say that’s just the beginning.
Bank alleges rival tried to bar it from lucrative business
Flatirons Bank in Boulder, Colorado, has filed suit against a Virginia-based trust company for allegedly attempting to block its entry into the multibillion-dollar qualified settlement fund business.
Morgan Stanley partners with crypto platform Zerohash
The digital asset tech provider, which recently raised $140 million, will power Morgan Stanley’s E*Trade crypto offerings early next year.
New framework aims to reduce SaaS security risk
A new industry standard from the Cloud Security Alliance aims to solve major security challenges for companies that rely heavily on cloud-based operations.
PayPal inks BNPL deal; Revolut promises to invest in UK
PayPal agrees to a $7 billion BNPL loan purchase agreement with Blue Owl Capital, while Revolut, which is building a financial superapp, is looking for permission to offer more banking products. That and more in the American Banker global payments and fintech roundup.
Bank economists say inflation, job market will deter growth
The American Bankers Association’s Economic Advisory Committee expects the economy to grow, albeit at a slower pace than it previously anticipated. The group pointed to stubbornly high inflation and a weakening job market.
How Trump’s visa crackdown could make payments more expensive
The president is charging $100,000 for H-1B visa petitions that allow skilled workers to migrate to the U.S. Here’s a look at the impact on banks and payment firms.
Cannabis banking needs more certainty than the SAFER Act provides
We don’t need to reinvent banking to support cannabis. But we do need a clear, federally coordinated compliance framework tailored to the sector. That means establishing uniform standards.
The Most Powerful Women to Watch, No. 10, Wendy Cai-Lee, Piermont Bank
With a risk-based capital percent double what’s considered well-capitalized, Cai-Lee is thriving in her goal of building a financial institution for the next generation of small and medium-sized businesses – while grappling with an FDIC consent order.
The Most Powerful Women to Watch, No. 4, Jodi Richard, U.S. Bank
Richard says that managing liquidity and interest rate risk have been a top priority last year and this year for the bank.