Congress needs to reform the FCRA’s treatment of consumer medical debt
Involuntary medical debt continues to impair the credit of an untold number of otherwise creditworthy Americans. Federal courts have left the door open for Congress to amend the Fair Credit Reporting Act in a way that would address the problem.
Crypto has become part of Iran’s arsenal
Iran is charging tolls to cross the Strait of Hormuz, and demanding payment in crypto, which helps it both raise money and evade U.S. sanctions.
Wells Fargo, Citi and Goldman lead in AI venture investment
The largest banks have increased their venture capital investments in AI startups by 21% over the past two years. They’re looking to “co-shape” technology so that it meets their needs.
Three under-the-radar takeaways from big-bank earnings
Cryptocurrencies and stablecoins — popular topics following the passage of the GENIUS Act — got less attention last week from big-bank CEOs.
Wells Fargo’s Scharf: Lowering rates is ‘wrong thing to do’
Wells Fargo CEO Charlie Scharf said bankers and economists are broadly against lowering interest rates now, given uncertainty from the Iran war.
Banks assail nonbank oversight in CFPB deregulatory push
Banks are pushing back on the Consumer Financial Protection Bureau’s draft of a five-year strategic plan, which includes a notable pullback from supervising nonbanks.
What Iran’s Hormuz toll and romance scams have in common
U.S. banks must navigate conflicting signals as Iran’s crypto toll demands and rising pig butchering scams exploit the same stablecoin and correspondent banking rails.
Business banking fintech Slash raises $100 million
Slash Financial, a fintech originally founded for sneaker resellers, closed a Series C funding round and launched an AI assistant for digital-native business customers.
Banks should move forward on AI with eyes open to potential risks
The challenge for banks is not whether to adopt AI but how to do so with discipline, judgment and a clear understanding of its limits. The history of technology firms overpromising is extensive in the banking industry.
How the Clearing House is pushing international real-time payments
The RTP rail joins FedNow and digital asset firms in the quest to add speed for cross-border settlement.