Va. bank turns to workplace banking to spur deposit growth
Freedom Bank is rolling out Freedom@Work, which offers perks for employees of participating companies, as part of a wider strategy to attract more consumer deposits.
Visa, Mastercard, HSBC make open banking payment plays
The card network behemoths and the London-based bank are looking to expand account-to-account payments through fresh partnerships and investments. Plus: President Trump withdraws Shift4 CEO’s NASA nomination, and tokenized payments gain steam in Europe in this week’s global payments roundup.
Market structure bill gets off to rocky start at hearing
House lawmakers discussed the recently-introduced market structure bill, with Democrats expressing concerns that the bill could enable banks to evade securities laws.
Bankers see demand for digital assets, but remain gun-shy
KeyBank and Pathward Bank are among the banks whose customers are asking them for digital asset services. But bankers remain cautious in this time of regulatory uncertainty.
How Truist and Western Alliance deploy AI to fight fraud
Two bankers detailed how artificial intelligence is transforming fraud detection and incident response for their institutions. The technology lets analysts ask datasets direct questions.
JPMorgan hands more duties to Lake, seen as a CEO contender
Marianne Lake will oversee strategic growth and the company’s fast-growing overseas consumer bank.
Banks and businesses deserve clarity on the legal treatment of cannabis
The STATES 2.0 Act, currently pending in Congress, would go a long way toward giving banks confidence that they can provide services to legal cannabis businesses without putting themselves in legal jeopardy.
As Treasury market is poised to grow, fragilities mount
The Treasury market experienced unexpected volatility in April after President Trump announced sweeping tariffs, but recovered after the moves were delayed. Some see that as proof of resilience in the market, but others say it highlights vulnerabilities.
Wells Fargo sheds asset cap, ending seven years of handcuffs
The San Francisco-based bank was long hamstrung by a regulatory order that kept it under $1.95 trillion of assets. Now Wells can hit the gas on business lines it had kept idle.
FDIC’s Hill criticizes Biden-era approach to bank mergers
The acting chair argued for a simplified capital hike, criticized past approaches to bank mergers and signaled movement on the FDIC board could be coming soon.