Virginia Governor Youngkin vetoes prohibitive fintech lending bill
The law would have expanded the state’s 12% interest rate cap in a manner that would have effectively banned fintech lending in the state.
Animal welfare, DEI and more: Banks face votes on hot topics
The largest U.S. banks are facing shareholder votes on a number of politically charged issues — some backed by conservative groups and others championed by organizations with a more progressive bent.
JPMorgan becomes Affirm’s latest counter to Klarna
The bank has added Affirm as an option, after adding the fintech’s rival Klarna to its merchant network in February.
Fiserv executive gets Social Security nomination hearing
Wall Street veteran Frank Bisignano pledged at a Senate Finance Committee hearing that he doesn’t plan to privatize Social Security.
Custodia, Vantage release first bank-issued stablecoin on Ethereum
The two financial institutions issued Avit tokens on the Ethereum mainnet, marking a first in the U.S.
Cadence Bank to close M&A deal ahead of schedule
The Mississippi lender said regulators have signed off sooner than expected on its $103.6 million acquisition of First Chatham Bank. The bank’s CEO and deal advisers said the speedy approval bodes well for future M&A.
Why banks aren’t seeing high returns on generative AI
The newness and potential risks of the technology are factors, but there are also fixable mistakes companies make that prevent payoff.
De novo banking bill could pose a threat to existing small banks
A proposal before Congress would incentivize the creation of new banks by offering capital relief. This would give de novo banks a competitive advantage over incumbent community banks.
FDIC will eliminate reputational risk from bank supervision
Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency would eliminate reputational risk from all supervision, release more guidance on cryptocurrencies and refocus bank supervision.
Banks move for speedy end to Fed stress test lawsuit
The banking industry groups suing the Federal Reserve over its stress testing practices filed a motion for a summary judgment in the case, arguing that a quick resolution could ensure changes are made prior to the 2026 stress testing cycle.