Navy Federal, Vystar sign up for Visa’s stablecoin consulting
Visa launched its Stablecoin Advisory Practice, a value-added service from its consultancy arm Visa Consulting & Analytics, to help financial institutions, fintechs and merchants deploy stablecoin technology.
To stop scammers, banks should offer dual approval of transactions
As AI makes financial scams more and more convincing, banks would do customers a real service by allowing them to opt in to dual approval of transactions above certain dollar limits.
JPMorgan debuts first money market fund tokenized on Ethereum
The New-York based bank on Monday debuted the My OnChain Net Yield Fund, or MONY, a private fund supported by JPMorgan’s tokenization platform, Kinexys Digital Assets.
Fed Gov. Miran says goods inflation may remain elevated
Federal Reserve Gov. Stephen Miran said higher goods prices could be the tradeoff for bolstering national security and addressing geoeconomic risks.
City National joins crowded field of banks in the Carolinas
The Los Angeles-based subsidiary of Royal Bank of Canada is elbowing into fast-growing North Carolina and South Carolina with a strategy focused on middle-market banking.
Bank stress tests are too important to be left to regulators
Passing a federally mandated stress test is table stakes in risk management. Banks need to be proactive about designing and implementing stress tests that consider a wide range of scenarios, with a particular focus on tail risks.
No downside to nixing Comerica deal, says activist investor
HoldCo Asset Management says that shareholders should reject Fifth Third’s proposed acquisition of Comerica during a Jan. 6 vote due to what it calls an “unacceptable” negotiation process and the possible upside from another deal.
Deutsche Bank, ING among targets of phishing kit for novices
Part of the growing “phishing-as-a-service” economy, the Spiderman kit offers novice hackers sophisticated tools to target customers of major EU institutions.
Young bank customers are more satisfied than seniors: Survey
Banks may need to offer people over the age of 65 more than just digital experiences, according to an executive at J.D. Power, which surveyed more than 11,000 retail banking customers.
Trump executive order seeks to gut state AI laws
In a move some industry observers call “dangerous and irresponsible,” the administration is taking down consumer protection guardrails that have been put up by states like California and Colorado.