Fed’s Bowman wants ‘open-minded’ approach to innovation
The Federal Reserve governor said regulators have stifled the banking system’s ability to experiment with emerging technologies.
Make it easier to start new banks, lawmakers urge
Congressional representatives push to ease regulatory hurdles for de novo banks, citing barriers to entry for small lenders.
Democrats seek answers about DOGE access to Treasury data
Elizabeth Warren, Sherrod Brown and Patty Murray are among those questioning Elon Musk’s team’s ability to access sensitive data and install email services in government agencies.
FDIC releases bank supervisory communications on crypto
Federal Deposit Insurance Corp. Acting Chair Travis Hill released a trove of internal supervisory correspondence from the agency to banks regarding proposed cryptocurrency business lines or relationships, initiatives Hill said were “universally met with resistance” by the agency.
Trump 2.0 brings back remittance threats
Secretary of State Marco Rubio said the U.S. will ban certain Cuban payments, mirroring Trump’s pressure on cross-border payments during his first administration.
Worldpay acquires fraud detection tech firm Ravelin
Cincinnati-based processor has agreed to buy a London technology firm that uses artificial intelligence to build advanced models to manage fraud risk.
GOP senators: regulators, not bankers, guilty of debanking
While Republicans and Democrats found some agreement that consumers of all stripes should be included in the banking system, they differed wildly on who is to blame for banks dropping customers.
Fed’s balance sheet runoff nears pivotal moment
As the Federal Reserve’s overnight reverse repurchase agreement program nears zero, pressure could mount on the central bank to slow or stop its asset runoff as it fights inflation.
UMB’s CEO reflects after closing biggest deal of his career
Just days after UMB Financial completed its acquisition of Heartland Financial, CEO Mariner Kemper spoke about how the deal came together and the combined bank’s future.
Questions abound for Trump’s sovereign wealth fund plan
Trump’s executive order to create a U.S. sovereign wealth fund raises important questions — as yet unanswered — around funding, governance, political interference and the purpose that such a fund would serve.