Chime secures new distribution channel with Workday partnership
The deal will allow Workday to offer Chime Workplace, the neobank’s suite of enterprise financial wellness solutions, to its clients. For Chime, the partnership provides a wider reach to new potential deposit accounts.
Australia’s CBA halts AI-driven layoffs amid union pressure
A banking union calls the reversal by Commonwealth Bank “a massive win,” but warns the fight to protect human jobs from AI replacement isn’t over.
As Trump, foes collide, occupancy fraud is spotlighted
Here’s what industry experts have to say about a risk that a housing regulator has spotlighted through referrals that have led to high-level allegations.
Clear stablecoin regulation will drive a return to ‘narrow banking’
As stablecoins gain broader adoption in the U.S., they will eat into banks’ deposits. As a result, lending in the U.S. may be increasingly funded by the wholesale capital markets.
Bankers demand deposit fix while fighting over price tag
A bipartisan amendment from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would expand deposit insurance for business accounts, but the industry is split on who should bear higher FDIC premium costs.
Exclusive: Union accuses Wells Fargo exec of eavesdropping
A recent bargaining session was interrupted when union representatives learned that a Wells executive who wasn’t in the room could hear what was being said. The bank maintains that it was a simple mistake involving a Microsoft Team meeting that should have been disconnected, but union officials aren’t buying that story.
Visa abandons open banking in U.S. as data-access debate rages
Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter.
Member of cybercrime gang that targeted banks gets 10 years
Scattered Spider, a cybercrime gang whose targets include banks, has seen five of its members arrested for SIM-swapping and phishing schemes that stole millions.
‘Synapse engaged in unfair acts’: CFPB files complaint
The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users’ accounts.
NCUA board in limbo after judge stays reinstatements
A federal appeals court granted the government’s request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.