Ripple to acquire prime broker Hidden Road for $1.25 billion
The agreement surpasses Stripe’s $1.1 billion deal to buy stablecoin payments platform Bridge in February.
Fed ends enforcement action against former bank employee
The Federal Reserve Board terminated a 22-year-old cease-and-desist order against a one-time vice president of The Marathon Bank in Winchester, Virginia.
BlackRock picks Anchorage Digital for added crypto custody
The largest asset manager globally announced Tuesday it will enter a new master custody service agreement with Anchorage Digital, the only U.S. federally chartered digital asset bank.
FDIC’s Travis Hill previews new resolution standards
The Federal Deposit Insurance Corp. aims to ease compliance for large banks, revisit crypto and stablecoin rules, and weigh inflation adjustments to regulatory thresholds
PNC taps new president, sees ‘opportunity to scale’
BlackRock veteran Mark Wiedman is taking the torch as president at PNC. The seeming successor to longtime CEO Bill Demchak will be tasked with helping the bank evolve.
Bank of America: More than 90% of its employees now use AI
The second-largest U.S. bank is pushing generative artificial intelligence out to most employees while continuing to offer its more traditional AI-based Erica virtual assistant to customers, says tech executive Hari Gopalkrishnan.
State-issued digital IDs are taking hold. Are banks ready?
As more states adopt digital identity, there is an opportunity for banks to improve authentication.
French Hill promises Republican-led bank deregulation
As President Donald Trump’s tariffs whipsaw bank shares and threaten recession, the House Financial Services Committee chairman told a large room of bankers that efforts like repealing the small business data collection rule and passing legislation to Congressionally appropriate the Consumer Financial Protection Bureau are among his priorities.
Trump team mulls exporter tax credit as tariff counterweight
The rebate, which would be geared toward boosting U.S. manufacturers, would be issued at the end of the year to offset the effects of retaliatory tariffs.
Trump dismisses last-gasp EU push to stop tariffs kicking in
President Donald Trump rejected a European Union proposal to drop tariffs on all bilateral trade in industrial goods with the U.S.