U.S. Bank sees stablecoin opportunity in trade finance
The Minneapolis-based bank is still exploring stablecoin options outside of custody services, but sees opportunity in trade finance, CEO Gunjan Kedia said at The Clearing House Annual Conference in New York Wednesday.
JPMorgan says it’s facing federal probe over ‘debanking’
The megabank is cooperating with a government request for information related to how it decides which customers to bank. It is the second large U.S. bank — along with Bank of America — to disclose such a probe.
Cutting bank capital requirements opens the door to systemic risk
A proposal to reduce the enhanced supplementary leverage ratio, implemented in the wake of the global financial crisis, risks bringing back the same sort of risky behavior that cratered markets in 2008.
Banks buy back more stock as Fed weighs capital proposal
Large banks seem comfortable paring back their capital positions while they await an updated proposal on the so-called Basel III endgame. The rules are widely expected to be more lax than what was proposed during the Biden administration.
Bank trade group opposes Coinbase charter application
The ICBA opposed Coinbase’s filing for a trust charter in a public letter as Comptroller Jonathan Gould defended the fintech charter process on Tuesday.
Carver taps veteran OCC official to bolster leadership team
After more than a quarter-century as a regulator, Jason Sisack had planned to enjoy some time off before taking a new job. He reversed course once Carver, which is operating under an enforcement action, approached him.
Gould backs charters to bring nonbanks into regulatory fold
Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is “the only way” to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
Global Payments celebrates M&A regulatory wins
With the U.K. and U.S. giving a green light to the company’s $22.7 billion scale-building deal to buy Worldpay, Global Payments has begun its integration strategy.
Flagstar agrees to $31.5 million data breach settlement
The agreement, if approved by a federal judge, would end litigation over two distinct cybersecurity incidents in 2021 which affected over 2 million customers.
Fed’s Bowman seeks level field for banks on digital assets
Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business.