Bank group urges OCC to leave state preemption unchanged
In a letter to the Office of the Comptroller of the Currency, the American Bankers Association rebuffed state regulators’ calls to rescind the agency’s broad state preemption rule, defending federal law’s supremacy in the dual banking system.
JPMorganChase’s high-tech payments division: A look inside
Umar Farooq and Max Neurkirchen lead an $18 billion unit that touches most of the planet. Here’s what they told American Banker about instant processing, how artificial intelligence is affecting jobs and what they look for in new leaders.
We need stablecoin regulation that doesn’t disadvantage banks
Until a regulatory perimeter is established, banks should tread carefully — and so should everyone else.
Stablecoins are the very disruptive future of finance
If you are still thinking of blockchains as slow, clunky and expensive, do not feel badly. As is the story of many emerging technologies, they evolve quickly.
RBC misses estimates as bank prepares for souring loans
As the Canadian economy weakens in the face of US tariff uncertainty, Royal Bank of Canada and other large banks north of the border are putting aside more money for loans that are still in good standing.
The federal student loan portfolio isn’t an attractive asset
The Trump administration’s plan to shift $1.6 trillion in student loans could include a sale to a private buyer. If that’s the case, any potential purchaser has some serious due diligence to undertake.
US economy’s first-quarter decline revised to 0.2% from 0.3%
Growth in consumer spending was revised down, but estimates for imports and business investment were raised.
What Trump’s latest GSE comments could mean for mortgages
Analysts awaiting specifics on the “implicit guarantee” for Fannie Mae and Freddie Mac are split on whether mortgage rates and guarantee fees could rise.
Navy Federal’s credit play, Coinbase outage and more banking tech news
Navy Federal Credit Union’s partnership with Bloom Credit, a data breach at Coinbase and other tech news draw attention from bankers going into June.
Cancel all debts, a new book recommends
What if the guiding narrative of 2,000 years of human history was a slow march toward the worship of money? A new book by Paul Vigna argues that we could fix this problem if we declared an old-fashioned jubilee and simply erased all debts.