Consumer groups urge FHFA not to mix crypto with mortgages
Advocates warned the Federal Housing Finance Agency that allowing cryptocurrency assets to be used in the underwriting of Fannie and Freddie mortgages risks taxpayer losses and market instability.
DC Circuit panel lets Trump administration fire CFPB staff
By a 2-1 vote, a three-judge panel of the DC Circuit Court of Appeals ruled that the CFPB’s union did not have a reviewable claim under the Administrative Procedure Act. Employees expect a mass reduction-in-force immediately.
In-store biometric payments are set to take off
Paying for items with your palm or face isn’t commonplace yet, but it’s coming. What banks need to know.
Stablecoins are a first step toward global, on-chain financial markets
Well-regulated stablecoins will open the door to a wide range of financial activities, including 24/7 global markets for any asset class imaginable. Traditional banks should take note.
Experts warn banks about the dangers of overreliance on AI
The growing use of generative and agentic AI in banks is setting off some alarms.
Trump tosses Biden executive order that chilled bank M&A
The 2021 executive order had called on bank regulators to apply more scrutiny to bank deals. Trump-era regulators have already started rolling back those policies.
Bankers, consumer activists unite against stablecoin rule
The GENIUS Act would allow Special Purpose Depository Institutions, which are state-chartered uninsured banks, to expand to other states without the approval of state bank regulators, a provision that’s now drawing criticism from consumer advocates and banking lobbyists.
How a stablecoin boom could pressure bank loans
Stablecoin issuers often use Treasury bills as backing reserves. That could put pressure on other parts of the financial system if the industry continues at its current growth trajectory.
Banks gaining upper hand as fight over open banking heats up
Bank trade groups have asked a federal court to halt enforcement and extend compliance dates for the Consumer Financial Protection Bureau’s open banking rule that was enacted during the Biden administration. The move comes as the lobbying fight over how the rule will be rewritten intensifies.
How Citi and JPMorgan’s blockchain moves influence payments
Citigroup’s new treasury partnership with Payoneer and JPMorganChase‘s deposit token are pressuring banks to quickly come up with a “vision,” according to payment experts.