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.
Credit unions deliver big returns for communities through CDFIs
The leader of a major credit union trade group takes issue with a recent BankThink article questioning credit unions’ ability to operate as federally recognized Community Development Financial Institutions.
A small Nigerian money-laundering scheme has big lessons for banks
The amount was less than $1 million, but the plot reveals clues that can help spot and fight elderly abuse and other financial crimes.
There’s a bubble that all effective managers make an effort to pop
Whether they plan on it or not, most managers will at some point find themselves in a bubble that bad news fails to penetrate. The best leaders are the ones actively trying to burst it.
Why a commercial real estate doomsday now looks unlikely
Data suggests that the beleaguered commercial real estate market isn’t going to get worse. And now that banks have had time to build reserves, any losses they do take shouldn’t be disastrous, analysts say.
Chase formally reenters HELOC business after five years
The bank “temporarily” paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.
Fintech lobby pushes for AI expertise in California DOJ
The American Fintech Council publicly declared support for California SB 69, which would require “internal expertise” for artificial intelligence regulation.
Can $200M fund for mission-driven banks create a blueprint?
Four years after its launch, the Mission Driven Bank Fund has ended its fundraising well short of its original $500 million target. Still, organizers are hopeful that the fund’s performance will attract other investors to the sector.
U.S. Bank’s Elavon launches revenue-based financing
U.S. Bank’s merchant acquiring unit has expanded its partnership with embedded finance fintech Liberis to offer its small business clients working capital loans.The two companies previously offered loans in the U.K., Ireland and Poland.