1.2 million French bank accounts exposed in breach
Hackers used stolen credentials to access the French FICOBA database, exposing names and account numbers but failing to access funds directly.
PayPal’s ‘bad code’ leads to unauthorized payments
Social Security numbers, business addresses and other sensitive information were exposed. The company has fixed the error and refunded the victims.
CFPB shutdown battle reaches crucial D.C. Circuit hearing
The CFPB is in an existential legal brawl against it’s own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.
New York’s BNPL regs take shape amid a CFPB vacuum
Critics say more regs for BNPL are overkill, but proponents hope the state rule will be a framework for other states.
Waller questions January jobs surge, backs possible March cut
Federal Reserve Gov. Christopher Waller said during an appearance Monday his decision on whether or not to support a cut to short-term interest rates depends on labor market indicators.
Fincen should reassert its control over anti-money-laundering policy
As geopolitical threats loom, the U.S. needs a better-coordinated AML strategy. The Treasury Department’s Financial Crimes Enforcement Network should take the lead in implementing needed reforms.
Small Ky. bank’s release by regulators came sooner than expected
A written agreement between Kentucky First Federal Bancorp and the Office of the Comptroller of the Currency was terminated in 20 months, less than half the time that management feared it might take.
Epstein files present banks with the ultimate reputational risk
The Epstein files show the real-world business consequences of bankers’ personal and business relationships, but the revelations come as the Trump administration is moving to marginalize reputational risk as a factor in bank examinations.
Karen Petrou, founder of Federal Financial Analytics, dies
A highly esteemed bank policy researcher and author, Petrou was an influential voice in Washington and sharp critic of the Federal Reserve’s ultra-low interest rate policy after the 2008 financial crisis.
Trump Boosts New Tariff Rate to 15% a Day After Announcing 10%
President rushes to preserve tariff agenda following Supreme Court ruling against his use of an emergency-powers law.