Ripple joins other crypto firms seeking trust bank charters
The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
Erebor’s charter bid rides wave of fintech-friendly policy
Backed by tech billionaires, the crypto-focused digital startup bank’s timely application reflects the current administration’s openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers’ political ties.
NCUA sets high bar for criminal referrals after Trump order
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
Influential Fed supervision official takes resignation offer
Michael Gibson, director of the Federal Reserve’s supervision and regulation division, has accepted the agency’s voluntary resignation offer and plans to leave this month after more than three decades at the central bank.
Bank groups encourage Treasury switch to digital payments
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
Tech’s response to the rise of check fraud
Now more than ever, businesses globally have become increasingly susceptible to financial fraud.
Louisiana bank to enter Dallas with its second Texas deal
Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
Santander agrees to buy Sabadell’s TSB unit for $3.6 billion
The all-cash transaction will make the enlarged company the U.K.’s third-largest lender by some measures.
Judge clears way for Huawei bank fraud trial
A federal judge in New York has rejected Huawei’s effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
Credit card mandates are antithetical to free market principles
Efforts to shoehorn the Credit Card Competition Act into pieces of popular legislation need to be defeated. The proposed law would harm the small businesses and consumers it purports to help.