Fed defends stress test authority even as it explores changes
Despite its commitment to change its stress testing program, the Federal Reserve is defending its current practices in court. That argument raises thorny legal questions about whether stress tests are more like rules or adjudications.
Innovation of the Year 2025: Meet the honorees
The 10 winning innovations span categories from AI and payments to risk and compliance. An overall winner will be announced at American Banker’s Digital Banking event on June 2.
JPMorganChase quietly closed its fundraising platform Capital Connect
A representative for the bank said JPMorganChase is still dedicated to venture capital investors and new businesses.
CFPB wins rare judgement over student loan debt relief firm
A federal judge has ordered FDATR, a now defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.
How Cathinka Wahlstrom is modernizing America’s oldest bank
BNY’s chief commercial officer talks about AI, tariffs and her efforts to help create a leaner, meaner bank.
Fiserv outage underscores the importance of bank contingency planning
A service outage on Friday at Fiserv affected multiple banks and crippled at least 60 applications for some Fiserv customers, including Early Warning’s peer-to-peer money transfer app Zelle. The issue, while resolved, reiterates the importance of bank redundancies.
CFPB to amend or reissue 1033 open banking rule, experts say
The Consumer Financial Protection Bureau under President Trump plans to make changes to the rule governing consumer financial data rights despite rare bipartisan support for the regulation.
Bessent: Private credit boom shows banks are overregulated
Treasury Secretary Scott Bessent argued that tight bank regulations are driving the growth of private credit, which he thinks reinforces the case for deregulation.
How Apple’s regulatory woes opened a door for payment rivals
Curve, a London-based fintech, has added a mobile wallet to its flagship product that lets consumers switch cards after the point of purchase.
Stablecoin coalition cracks, Democrats threaten filibuster
A bipartisan alliance backing stablecoin legislation shattered in the U.S. Senate.