Powell: Fed policy review honing in on communication
The Federal Reserve chair said there is ‘room for improvement’ in how the central bank conveys economic uncertainties to markets and the broader public.
If the US dollar’s dominance fades, here’s what might replace it
Engineering an orderly transition toward greater currency diversification is urgent. It would strengthen financial resilience and help sustain international economic integration.
Coinbase says bribed workers leaked data to hacker
The crypto trading platform said the hackers bribed contractors or employees outside the U.S. to steal sensitive customer data and then demanded a $20 million ransom.
Deregulation is the new norm at the CFPB, and banks love it
The new Trump administration has brought deregulation and staff cuts to the Consumer Financial Protection Bureau, leaving many wondering what’s next.
Customers Bank aims for payoff after years of transformation
The Pennsylvania company spent the last five years adding lines of business, cleaning up its balance sheet and leveling up its technology. This year, Customers needs to churn out consistent earnings to prove that the investments were worth the costs.
JPMorganChase ‘narrowing’ its bitter Viva Wallet dispute
The bank, which owns 48.5% of the Greek fintech, is battling with the company’s owners over how to determine valuation, among other disputes. JPMorgan says it is reviewing aspects of the legal case but is still seeking a $1 billion claim in Greece.
Big payouts to credit union execs after merger draw flak
Three executives at Space City Credit Union in Houston will get a total of $6.75 million if the cooperative’s members approve a merger. The 12,000 or so members will split $5 million.
CFPB withdraws proposed rule to rein in data brokers
The Trump administration has withdrawn from the Federal Register a proposed rule that sought to protect consumers from having their sensitive financial information sold.
NY attorney general sues Capital One over savings accounts
New York Attorney General Letitia James is accusing Capital One of deliberately deceiving customers and obscuring higher interest rates. The lawsuit comes less than three months after the CFPB dropped a similar case against the bank.
Check fraud ring exposed in Oklahoma mail theft case
As banks face mounting check fraud, a newly unsealed indictment reveals how one criminal ring exploited weak spots in the system.