Seven state AGs demand more information from BNPL lenders
As federal watchdogs step back from regulating “Buy Now, Pay Later” loans, state authorities are stepping in. This week, the attorneys general from California and several other blue states joined the fight.
In Congress, bank regulators defend Trump agenda
In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.
Deal would boost Lubbock-based bank’s profile in Houston
South Plains Financial agreed to pay $105.1 million in stock to acquire a seven-year-old Houston community bank in its first M&A foray since 2019.
‘Policy leaders are being shown a rosier picture’: Ludwig
Former Comptroller of the Currency Eugene Ludwig has written a book called The Mismeasurement of America that lays out the shortcomings of the standard economic data that U.S. government and businesses use to make decisions, and how this data obscures the truth about how low-income Americans are actually faring.
Banks need to steel themselves for the next battle over crypto rules
The debate over the “macro” questions about cryptocurrency in the U.S. has been largely settled. We’re now entering the “micro” phase, where specific rules and regulations will be written to chart the industry’s future.
Empathy can’t be automated — neither can financial guidance
Artificial intelligence isn’t an algorithmic takeover but an essential wealth management tool.
Exclusive: Sen. Warren presses credit unions on late fees
Democratic lawmakers, led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., press 21 institutions for fee data after a federal agency halted disclosure requirements.
How Alex Chriss has changed PayPal’s ‘focus’
The CEO spoke with American Banker about the company’s plans for AI, blockchain, taking its digital wallet global and making PayPal and Venmo work together for the first time.
Banks keep merging. Investors keep punishing them.
Financial institutions see an opportunity to nab scale after years of tepid dealmaking, but investors are pushing back against such efforts out of concerns about shareholder value.
Santander creates fake AI ads for shopping scam awareness
The global bank created an educational campaign designed to alert customers to the risk of AI-generated scam advertisements on social media.