Maspeth Federal Savings Bank opens new tech center
The Queens, New York-based community mutual bank held a grand opening ceremony to open a new office space exclusively for its tech employees.
New York AG unveils new consumer protection bill
New York Attorney General Letitia James announced new state legislation to ban unfair and abusive business practices, giving state regulators broader authority to crack down on consumer abuses.
Formerly troubled bank released from Fed enforcement action
Hackers breached the New York community bank’s cybersecurity walls in 2022, drawing regulatory scrutiny and causing its CEO to resign.
Stablecoins: What banks, payment companies need to know
While often used to describe a digital asset that hedges against cryptocurrency’s volatility, the reality of stablecoins is much more complex.
Fraud and scams plateaued but got more expensive in 2024
Both consumers and banks reported that the rate of fraud and scams has steadied, according to Fincen and FTC data, but the total cost continued rising.
OPM says union agreements ‘unenforceable’ in mass firings
New guidance from the Office of Personnel Management states that unions’ collective bargaining agreements cannot interfere with mass layoffs carried out by federal agencies.
Bank-favored riders fail as stablecoin bill passes committee
A much-anticipated stablecoin bill advanced to the full Senate in an 18-6 vote, giving it a promising path to pass with 60 votes. But amendments banks favored were shut out of the markup.
Oracle launches agentic AI for tackling financial crime
The software helps identify and investigate crime, then writes a recommendation.
CIBC CEO Victor Dodig will retire, bank names his successor
Dodig, who has led the Canadian bank since 2014, will be succeeded by Harry Culham, CIBC’s head of capital markets.
DOGE details its cuts at HUD, VA, CFPB
The task force terminated vendor contracts at the Department of Housing and Urban Development worth a combined $305 million, according to its wall of receipts.