State banking advocate: Consolidation would hurt small banks
Brandon Milhorn warned that merging federal bank regulators would weaken state oversight, harm community banks, and erode the diverse perspectives in finance.
Fed’s Barr: banks can and do serve crypto customers
The Federal Reserve’s outgoing vice chair for supervision touted a “culture of curiosity” among the central bank’s supervisors, but said it is a challenge to balance responsibility and innovation.
Crypto debanking, Musk’s DOGE: Top tech news February 2025
Read more about cryptocurrency players struggling to access banking services and Elon Musk’s weaponization of the Department of Government Efficiency.
BNY to give employees advanced version of OpenAI’s ChatGPT
The New York bank will integrate ChatGPT Enterprise with its existing large language model framework, Eliza.
How regulators, banks and fintechs can prevent another Synapse
Partnerships between innovative banks and fintechs must adopt a “shared responsibility” model for the safety and soundness of the partnership.
Exclusive: Rep. Barr offers bills to curb CFPB powers
Rep. Andy Barr, R-Ky., is introducing a bill limiting the Consumer Financial Protection Bureau’s unfair, deceptive or abusive acts and practices authority and another limiting its ability to issue investigative subpoenas.
Synapse failure reveals regulators’ BaaS blind spots
Regulators need to consider the risk and complexity of a BaaS companies and connect the dots to bank safety and soundness and consumer protection.
Morgan Stanley Swiss unit fined $1.1 million in Greek bribery case
Morgan Stanley (Switzerland) GmbH failed to prevent the laundering of millions of dollars by one of its former bankers in a Greek kickback scheme tied to arms sales.
Top banks eliminate or reduce DEI talk in annual reports
Banks’ latest annual reports, filed in the early weeks of the second Trump administration, provide a window into how the industry is adjusting to a new political climate.
TD Bank’s quarterly earnings fall short of expectations
The Canadian bank’s profits were weighed down by its U.S. operations as the bank restructures its balance sheet and manages the fallout of money-laundering compliance failures.