Bank-favored riders fail as stablecoin bill passes committee
A much-anticipated stablecoin bill advanced to the full Senate in an 18-6 vote, giving it a promising path to pass with 60 votes. But amendments banks favored were shut out of the markup.
Oracle launches agentic AI for tackling financial crime
The software helps identify and investigate crime, then writes a recommendation.
CIBC CEO Victor Dodig will retire, bank names his successor
Dodig, who has led the Canadian bank since 2014, will be succeeded by Harry Culham, CIBC’s head of capital markets.
DOGE details its cuts at HUD, VA, CFPB
The task force terminated vendor contracts at the Department of Housing and Urban Development worth a combined $305 million, according to its wall of receipts.
We must finance a new wave of industrialization in the US
A blend of equity, private debt and public investment drove the country’s growth in the Industrial Revolution. To remain globally competitive, the U.S. needs more creative financing of large infrastructure projects.
Exclusive: American Express shares B2B research, tech plan
Many businesses are slow s to adopt payment automation. Amex shared new B2B research with American Banker, and execs R.J. Ancona and Widaud Chaoui discussed the firm’s strategy to lure corporates to digital payments in an interview at the recent Payments Forum conference and over email.
The GENIUS Act: Existential threat to banks or opportunity?
As the Senate Banking Committee meets to consider landmark stablecoin legislation today, the banking industry is beginning to wake up to what some experts say is an existential threat.
Banks lean on their foundations to boost disaster recovery
Disaster relief is capturing a large share of philanthropic giving from banks such as Truist Financial and Western Alliance Bank.
UK government rolls Payments Systems Regulator into FCA
The U.K. axed its payments regulator in an effort to reduce red tape as part of the prime minister’s Plan for Growth. The move was lauded by industry, but some are concerned the FCA won’t give payments the attention they deserve.
GOP lawmakers seek to repeal CFPB medical debt rule
Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau’s rule barring medical debt from credit reports.