CFPB vacates Townstone settlement, citing bureau misconduct
The Consumer Financial Protection Bureau asked a federal judge to vacate and set aside a settlement against a Chicago mortgage lender, accusing the CFPB of misconduct in a case brought under former Director Kathy Kraninger, a Trump appointee.
N.C. credit unions seek to expand into ‘banking deserts’
The North Carolina House of Representatives this week passed a measure that would allow credit unions to expand into geographic areas with few, if any, bank branches. Banks say such a change could open the door for credit unions to expand far beyond their limited missions.
Binance CEO Teng talks compliance in first D.C. speech
The event Wednesday marked the first time Teng has spoken in the U.S. capital since becoming CEO.
GAO says agencies followed ‘best practices’ with Basel III
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency took a measured approach to developing the international capital standards, according to a Government Accountability Office report.
Republicans lay out vision for revamped CFPB under Trump
Rep. Andy Barr, R-Ky., who chairs the House Financial Services Subcommittee on Financial Institutions, called the CFPB under the Biden administration and former Director Rohit Chopra an “Orwellian predator.”
Block cuts 8% of staff; Western Union leans into AI
Jack Dorsey’s payments company cut 931 jobs. Also: Western Union looks to artificial intelligence; Marqeta adds an e-marketplace; Westpac takes on scams; and more news in the global payments and fintech roundup.
Donald Trump Jr. calls crypto the future of finance
The president’s son spoke at a panel alongside the co-founders of the Trump-backed World Liberty Financial the day after it launched a new stablecoin.
Jenius Bank debuts external bank account aggregation
The digital bank announced upgrades to its online and mobile platforms that let users see financial information from multiple accounts on one dashboard.
Trump-backed World Liberty Financial launches stablecoin
The stablecoin known as USD1 will be on the Ethereum and Binance Smart Chain blockchain networks.
Treasury to phase out issuing, receiving paper checks
The Treasury will phase out the use of paper checks for most government payments in about six months. The Trump administration says the move will improve efficiency and reduce the cost of payment processing.