Powell: Fed “strongly” wants mortgages off its balance sheet

After the Federal Reserve moved to slow the pace of quantitative tightening, the Fed chair floated the idea of continuing to allow mortgage-backed securities to roll off its books even after the central bank has met its monetary policy objectives in reducing its balance sheet.

Fiserv acquires CCV to boost Clove; Ripple claims victory

Bank technology firm Fiserv agreed to buy the Netherlands-based company, which sells multichannel processing systems. Also: the FCA looks to lighten contactless checkout limits; Ripple’s Garlinghouse said the SEC has dropped a suit against his firm; and more news in the global payments and fintech roundup.

Judge bars Citi from returning climate grants to the EPA

A federal judge ruled that the bank must keep $14 billion granted by the Environmental Protection Agency in recipients’ accounts. The Trump administration has been trying to pull back money distributed under President Joe Biden.

5 things banks, payment firms can do to deter fraud

Fraud and scam prevention was top priority for financial institutions in 2024, and will continue to be a key area of investment in 2025. But while many banks have already taken steps to combat the ever-changing face of fraud, there’s more that industry can be doing to help their commercial and consumer banking clients stay […]