SEC settles Coinbase FOIA suit over crypto records
The Securities and Exchange Commission agreed to pay $150,000 to crypto exchange Coinbase to settle a Freedom of Information Act lawsuit filed by the company two years earlier.
Early Warning loses bid to toss NY Zelle fraud suit
A New York judge refused to dismiss Attorney General Letitia James’s suit accusing Zelle’s operator of enabling more than $1 billion in scams.
Banco Popular CEO to retire after only a year on the job
Javier Ferrer, 64, said he is stepping down to focus on his health and spend time with friends and family. He plans to hand the reins to Chief Financial Officer Jorge Garcia.
Report: Fed examiners were ‘untimely’ in closing supervisory findings
Staffers from the Federal Reserve Board and reserve banks took ‘several months’ to update bank supervisory marks after issues were resolved, a recent inspector general report found.
OpenAI’s security incident offers three lessons for banks
The Hugging Face breach gives bank executives reason to rethink some of their technology choices.
CFPB pick Johnson eludes Democrats in confirmation hearing
Brian Johnson, President Trump’s nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.
When a long-short strategy is right for a client
Advisors can help clients to diversify their stock portfolios, maximize growth and defer taxes with this increasingly popular method for harvesting losses.
First Citizens says it’s repaid $8.5B tied to SVB acquisition
The North Carolina-based bank plans to make additional monthly payments of $500 million-$1 billion to the Federal Deposit Insurance Corp., in order to reduce $35 billion of debt tied to its acquisition of the failed Silicon Valley Bank.
Mortgage rates edging closer to the 7% mark
Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.
Policy uncertainty creates an invisible ‘tax’ on capital formation
Banks can price in risk and manage their way around both left-wing and right-wing administrations. But the kind of uncertainty that arises from today’s brand of politics is impossible to model.