El-Erian sees Fed holding rates for longer than markets expect
The Federal Reserve is set to refrain from cutting interest rates for “quite a while,” following a hotter-than-expected inflation report, according to Mohamed El-Erian.
SEC’s Peirce says agency wants new approach to crypto
Hester Pierce, a Republican SEC appointee, said industry watchdogs had previously been practicing regulation by enforcement with digital assets.
Affirm to offer BNPL through FIS-issued debit cards
FIS’s debit-processing bank clients will soon be able to integrate Affirm’s pay-over-time-products into existing digital banking infrastructure. For Affirm, it means even more potential BNPL transactions.
Google, Corridor Platforms partner on gen AI controls for banks
The governance platform is meant to prevent hallucinations, errors, bias and other problems, and to track model activity to make sure nothing goes awry.
SBA fires staff, calls it an error, fires them again
Trump’s Small Business Administration told probationary staff members it had mistakenly sent them termination notices, then informed some of them the next day they were fired after all.
Powell backs leverage ratio update, Treasury market reform
During congressional testimony, Federal Reserve Chair Jerome Powell said he supports changes to the supplemental leverage ratio to make it easier for banks to intermediate the Treasury market.
Varo CEO Colin Walsh taps Gavin Michael to succeed him
Michael formerly led tech groups at Citi, JPMorgan Chase and Lloyds.
The U.S. can catch up on crypto adoption, with Trump’s help
The Trump administration has taken the first steps toward turning the U.S. into the world’s crypto “capital” — but is it willing to go all the way?
Zelle passes $1T in 2024, with a boost from small businesses
The bank-owned payments app saw the number of total transactions jump 24% compared with 2023, according to its first-ever release of usage data. Small business transactions increased 32%.
Pay soared in 2024 for the CEOs of these five big banks
Large banks are starting to disclose the compensation they awarded to their CEOs last year. Early signs point to a bounceback after CEO pay fell in 2023.