What bankers need to know about the Trump coin
President Donald Trump and the first lady released their own cryptocurrencies. Experts compare them to Beanie Babies and Dogecoin.
Scott Bessent’s confirmation as Treasury Secretary expected today
The Senate voted 67-23 over the weekend to consider the hedge fund billionaire’s nomination, setting him up for a vote this evening.
Southern California banks gauge wildfire damage, prep rebuild plans
Financial services providers in the region say they’re ready to do their part rebuilding Southern California after a series of devastating fires. For many regional and community banks, initial fire-damage surveys identified limited impact.
It’s time to do away with the obsolete currency transaction report
Once a helpful tool for law enforcement, CTRs have become next to useless in the fight against money laundering. It’s time to retire them in favor of more modern and effective measures.
BMO managing director dismissed over SEC mortgage-bond probe
Bank of Montreal dismissed a managing director on its US mortgage-backed bond desk in connection with a regulatory probe into misleading marketing practices.
Biometric payments: A bit uncanny but likely to catch on
Biometric payment terminals were on full display at the National Retail Federation’s Big Show in New York. American Banker tried terminals from Ingenico and JPMorgan Payments. Here’s what we found.
LA fintechs adapt to wildfires’ toll on health and families
Banks and credit unions also extended financial relief to Californians affected by the fires, which have killed 28 people and burned thousands of homes.
New housing subcommittee head promises policy rollbacks
The subcommittee to be chaired by Sen. Katie Britt, R.- Ala. will oversee servicing and HUD at a time when Republicans are resurfacing legislative proposals they now have more power to advance.
Congressional committees to investigate ‘debanking’ of crypto
The Senate Banking Committee and House Oversight Committee will hold hearings next week on banks dropping customers, an issue that has gained currency from crypto enthusiasts in recent months.
First Citizens reels in profits as loans and deposits grow
The Raleigh, North Carolina-based company reported a double-digit increase in net income for the fourth quarter and continues to see upside in its Silicon Valley Bank unit.