Capitolis gets funding from BNP, Barclays, JMorganChase
BNP and Barclays joined JPMorgan’s investment into the Wall Street fintech’s products, which help banks with optimizing their balance sheets.
Court vacates Fed interchange rule, dealing blow to banks
A federal judge in North Dakota found that the Federal Reserve’s rules capping interchange fees runs afoul of the Durbin Amendment section of Dodd-Frank, vacating the rule unless the central bank decides to appeal the decision. The decision carries implications not only for swipe fees but also how and when banking regulations can be challenged.
Two merging Boston banks to rebrand under new Beacon name
Berkshire Hills Bancorp and Brookline Bancorp are eyeing a September closing for their merger of equals, to be followed by a phased rollout of the new Beacon Bank & Trust brand.
PayPal and Visa embrace AI for payment crime fighting
The payment giants have added emerging forms of artificial intelligence to identify cybercrime, fraud and scams, countering crooks who are also embracing the innovation.
Paxos fined $48.5M over AML and Binance oversight failures
New York’s bank regulator says Paxos ignored obvious money laundering red flags and lacked basic compliance controls, particularly in its dealings with Binance.
Atlanta Fed president: Tariffs will weigh down small firms
The regional Fed bank president said in a speech Thursday higher import taxes will result in price pressure for companies of all sizes, but that small businesses will have a harder time avoiding or eating those costs, leaving them no choice but to pass them on to the consumer.
Clarified crypto rules are about to usher in a new banking paradigm
Noelle Acheson highlights how last week’s White House crypto document and the SEC’s announced Project Crypto are not just about supporting digital assets — they’re also about an overhaul of traditional finance.
Citi CEO meets Trump on Fannie, Freddie public offerings
Citigroup Inc. Chief Executive Officer Jane Fraser met with President Donald Trump on Wednesday to pitch public stock offerings for mortgage giants Fannie Mae and Freddie Mac.
Washington bank hopes BaaS investments will pay off soon
Coastal Community Bank reported smaller profits in the second quarter as it prepared for a growth spurt. “We think we’re winning the right business,” said CEO Eric Sprink.
Upstart returns to profitability in second quarter
The online lender reached profitability ahead of schedule with a boost in loan volumes and increased its outlook for the year despite macroeconomic uncertainty.