We must finance a new wave of industrialization in the US
A blend of equity, private debt and public investment drove the country’s growth in the Industrial Revolution. To remain globally competitive, the U.S. needs more creative financing of large infrastructure projects.
Exclusive: American Express shares B2B research, tech plan
Many businesses are slow s to adopt payment automation. Amex shared new B2B research with American Banker, and execs R.J. Ancona and Widaud Chaoui discussed the firm’s strategy to lure corporates to digital payments in an interview at the recent Payments Forum conference and over email.
The GENIUS Act: Existential threat to banks or opportunity?
As the Senate Banking Committee meets to consider landmark stablecoin legislation today, the banking industry is beginning to wake up to what some experts say is an existential threat.
Banks lean on their foundations to boost disaster recovery
Disaster relief is capturing a large share of philanthropic giving from banks such as Truist Financial and Western Alliance Bank.
UK government rolls Payments Systems Regulator into FCA
The U.K. axed its payments regulator in an effort to reduce red tape as part of the prime minister’s Plan for Growth. The move was lauded by industry, but some are concerned the FCA won’t give payments the attention they deserve.
GOP lawmakers seek to repeal CFPB medical debt rule
Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau’s rule barring medical debt from credit reports.
Sweden urges payment system to prepare for war in Europe
The country’s central bank cited geopolitical uncertainty and the increased reliance on digital payments as a reason to focus on offline payments as a backup. Also, a look at U.K. bank outages and other news in American Banker’s global payments and fintech roundup.
Crypto exchange Binance receives $2 billion from MGX
The Abu Dhabi sovereign wealth fund-backed AI investment company initiated the largest investment ever paid in crypto.
Truist adds New Jersey team as part of targeted growth push
The regional bank, which hired a commercial banking team away from Citizens Financial Group, has identified growth opportunities not only in the Garden State, but also in Pennsylvania and Texas.
Credit union strikes deal to acquire suburban Chicago bank
NuMark Credit Union said it would buy Lemont National Bank. After a record-setting 2024, it’s only the second such credit union-bank combination so far this year.