Bank trades push court to consider Illinois swipe fee law
Trade groups challenging an Illinois state law barring interchange fees on taxes and tips are urging a federal judge to rule by June 3 ahead of the law’s July 1 effective date.
RBC lowers provisions, even amid uncertainty from tariffs and war
Canada’s largest bank beat Wall Street’s expectations in the second quarter. But some analysts were puzzled by RBC’s decision to shrink its provisions for credit losses at the same time as its executives were acknowledging “elevated” macroeconomic uncertainty.
TD’s new AI agent shaves 15 hours off mortgage decisions
The Canadian-American bank’s first AI agent does the work of gathering any missing documents and verifying data for mortgage applications.
Why it’s worth it for Jack Dorsey to make nice with stablecoins
Block’s CEO is more bullish on bitcoin, but stablecoins add another option for the payment company’s users to build their spendable balances while furthering the company’s super app ambitions.
Report: Private credit opacity poses risk to financial system
A report from the Financial Stability Board said limited transparency in the private credit market makes it difficult for regulators to monitor and understand risks, potentially masking challenges to the financial system.
Fed’s target inflation rate ticks up, raises questions about policy stance
The Personal Consumer Expenditures price index climbed to nearly 4% in April, arguably making the Fed’s interest rate less restrictive and further complicating the central bank’s path toward future rate cuts.
Fintech, once the ‘enfant terrible’ of finance, is growing up
The narrative of fintechs as dramatic disrupters of traditional finance is wearing thin these days. More and more established fintech firms have discovered the value of respectability, and deemed it to be worth the cost.
SoFi launches native stablecoin to all its banking customers
The digital bank made its SoFiUSD stablecoin available to all members on Wednesday and plans to launch tokenized deposits in the near future.
AI’s trillion-dollar dilemma
The trillions being poured into AI is putting pressure on the hyperscalers to produce a return on the investments.
Why a New York crypto license still matters to Mastercard
Even after the passage of federal legislation governing stablecoins, the card network is covering its bases as it pursues more digital asset products.