SBA orders ‘its network of lenders to halt ‘debanking’
The agency says the move, which it made pursuant to a Trump directive, reverses Obama-era policies and requires banks to restore access to customers allegedly cut off for political or ideological reasons.
TransUnion data breach affects 4.4 million
The incident appears connected to recent social engineering campaigns, including attacks tied to Salesforce.
Data security is slowing bank and credit union automation
Worries that information can be kept safe is the top issue that’s holding back artificial intelligence-driven tech upgrades at regional banks and credit unions.
Cook sues Trump over ‘illegal attempt’ to fire her from Fed
Federal Reserve Gov. Lisa Cook filed a lawsuit in federal court Thursday morning seeking an injunction against President Trump’s “illegal attempt” to remove her from the Fed Board. The suit claims Trump has not demonstrated “cause” for her removal under the Fed statute.
Stablecoin custody could be the first step toward banking ‘super-apps’
Noelle Acheson points out that, while banks are unlikely to issue stablecoins, the related businesses they are likely to end up offering could set the stage for a transformation of their relationship with their clients.
TD, CIBC Beat Estimates on Their Canadian Banks’ Strong Results
Growth in TD’s home market has become even more important for the bank after its U.S. anti-money-laundering settlements imposed a cap on its American retail operations.
Exclusive: Pulte slashes Federal Home Loan Bank board seats
A directive from the Federal Housing Finance Agency would cut the number of board seats for Federal Home Loan Banks, especially in dark blue areas of the electoral map.
PNC’s new risk chief sees chance to ‘reallocate resources’
Amy Wierenga is taking on the role at a time when the Trump administration and Republicans in Congress are rolling back certain bank rules. She sees opportunities ahead.
EU may change CBDC to counter U.S. stablecoins
By using a public blockchain, a potential digital euro could be made more widely available. Plus, Klarna expands its merchant reach as it resurrects plans for an IPO, Binance faces an audit and more in the American Banker global payments and fintech roundup.
RBC’s City National Bank is back on ‘front foot,’ CEO says
The Canadian bank’s stateside unit is hiring bankers and investing in growth, according to RBC Chief Executive Dave McKay, following a rough 2023.