Fidelity plans to launch a stablecoin
Fidelity Digital Assets, the national crypto trust bank subsidiary of Fidelity Investments, is set to launch a dollar-backed stablecoin on ethereum.
Trump taps ex-investment banker Warsh to be next Fed chair
President Trump’s announcement Friday morning that former investment banker and Fed Governor Kevin Warsh would be his selection as the next chairman of the Fed ends months of speculation and gives the president a key ally at the central bank.
Is the OCC stretching trust charters too far?
The Office of the Comptroller’s interpretation of federal trust powers has opened the door for dozens of charter applications by nonbank crypto firms in recent months. Some experts say the agency’s interpretation may push the ambiguous statute beyond its limits.
Visa: Credit Card Competition Act not needed
CEO Ryan McInerney reiterated the company’s long-held stance that the Credit Card Competition Act was “very harmful” and “just simply not needed.”
Nubank receives conditional OCC approval for US charter
The Brazil-based fintech got conditional approval from the OCC to bring its digital banking services to U.S. customers.
GAO chides OCC for not keeping Basel records ‘confidential’
A Government Accountability Office report warns the Office of the Comptroller of the Currency to clarify which records from the Basel Committee on Banking Supervision should be treated as federal records and thus retained according to the Federal Records Act.
Banks, credit unions are on the precipice of an open finance shift
American Banker research finds that most institutions are still planning out adoption, but see new data sharing products as crucial tools for growth.
Bread Financial mum on Trump’s interest rate cap amid earnings beat
The credit card issuer said it had little to add to widespread discussions regarding the Trump administration’s proposed 10% cap on credit-card interest rates.
Mortgage rates rise as FOMC inaction adds to uncertainty
Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.
Mastercard’s CEO wades into Trump’s credit card pressure
The President has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap’s potential impact on access to credit.