How Mastercard is responding to the Iran war
The card network, which reported earnings on Thursday, reports some early impacts on travel payments, and has set up a site to help customers with questions about changes in consumer and business spending habits.
‘Knock on wood’: Are banks doing enough to cope with Mythos?
Banks have publicly said they’re on top of the risk presented by Anthropic’s Claude Mythos, which can find and exploit software vulnerabilities at unprecedented speed. Experts aren’t as sure.
A volatile Japanese yen poses real risks for US banks’ funding
The Japan-linked risk for banks is not the exchange rate itself but the funding, collateral and rollover pressure behind it. Sudden volatility in the foreign exchange market will rapidly cascade into U.S. Treasury markets.
Fed meetings are about to get really awkward
Jerome Powell isn’t Fed chair anymore, but he’s staying on the board, which might be uncomfortable for his successor.
Powell plays his last card as Fed chair
Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh’s leadership at the central bank.
Oregon enacts law granting 3-year tax break to new banks
The Beaver State measure gives de novo banks up to $1 million per year in tax credits. Oregon lawmakers modeled their legislation on a five-year-old Ohio law.
Western Union posts weak earnings; Visa expands stablecoin tests
Expenses and foreign exchange pressured Western Union; while Visa added more blockchains to its stablecoin settlement pilot. That and more in American Banker’s global payments and fintech roundup.
How a payments fintech uses AI to battle tariff refund chaos
Tipalti has developed a set of agentic artificial intelligence agents designed to help businesses navigate transactions and apply for refunds.
Santander pulls in U.S. deposits while waiting for deal to close
The Spanish banking giant is seeing improvement in its U.S. business, which is set to expand significantly if its pending acquisition of Webster Financial gets approved.
SoFi reports record revenue and loan origination
The digital bank and lender did not increase its full-year outlook in anticipation of an interest rate freeze.