Democrats propose bill to limit officials’ crypto activities
House Financial Services Committee ranking member Maxine Waters joined fellow Democrats in introducing a bill barring the president, vice president, members of Congress or their families from owning so much of a cryptocurrency that they are able to influence the market.
Former banker pleads guilty to $2 million check kiting fraud
Andrew Blassie, a former executive at Illinois-based Bank of O’Fallon, pleaded guilty to inflating bank accounts, defrauding retirees and abusing insider access, according to the Federal Deposit Insurance Corp. Office of the Inspector General.
NCUA to cut staff by 20% in sweeping overhaul
More than 200 employees are exiting the National Credit Union Administration as the credit union regulator pursues its Trump-era mandate to shrink government and slash operating costs.
How JPMorganChase democratized employee access to gen AI
The bank’s LLM Suite, a portal through which all employees can use popular large language models, is American Banker’s Innovation of the Year in the Generative AI category.
Nu cuts management layers and plans C-suite hiring, CEO says
“There were four layers between me and the senior managers of the products and like 14 layers across the organization, which is too much for an organization that needs to be agile,” David Velez said.
TD to spend $1B in two-year span on compliance fixes
Upgrading its anti-money-laundering controls is the Canadian bank’s top priority following historic failures that led to a $3.1 billion penalty and a U.S. asset cap.
Waller: Fed not looking to buy bonds amid sell-off
Bond yields are shooting up for the second time in as many months. Federal Reserve Gov. Christopher Waller attributes the volatility to concerns about rising national debt levels.
How banks can fight the rising tide of data breaches in 2025
Threat actors using artificial intelligence and other tools are putting a greater strain on banks’ cybersecurity systems, and other institutions could be next.
The CFPB must streamline its rule governing prepaid products
Because of the Consumer Financial Protection Bureau’s onerous regulation governing prepaid products, Americans who rely on them as their primary personal banking tool are being denied access to features available to users of similar products, such as checking accounts.
Trump tax bill narrowly passes House, overcoming infighting
The multitrillion-dollar package would avert a year-end tax increase at the expense of adding to the U.S. debt burden.