Trump order gives banks a regulatory break, but at what cost?
A White House order peeling back agency independence would curtail bank regulation in the near term, but could set the stage for long-term uncertainty and volatility.
Luvleen Sidhu reflects on BM Tech journey after sale to bank
First Carolina Bank has completed its acquisition of BMTX, formerly known at BankMobile, and Luvleen Sidhu is stepping away from her position as CEO.
Senate confirms Kelly Loeffler to lead SBA
The former Georgia senator and entrepreneur, who promised to combat red tape and fraud in her confirmation hearing, takes office following a 52-45 vote.
Finastra breach exposed personal data, company tells victims
A notification from Finastra to victims reveals that a data breach reported late last year compromised some consumer financial information.
Judge sides with CFPB in upholding small business rule
A federal magistrate judge is recommending that the Consumer Financial Protection Bureau’s small business lending data collection rule be upheld, rejecting a challenge by merchant cash advance lenders.
Citi lifts CEO Fraser’s pay by a third to $34.5 million
Up from $26 million in 2023, Jane Fraser’s compensation last year saw the largest increase so far among heads of big U.S. banks.
Warren, Schiff demand DOGE be removed from CFPB
While Sen. Elizabeth Warren, D-Mass., is continuing to try and save the agency she helped create, Sen. Adam Schiff, D-Calif., who benefited from crypto spending in his primary race, is a new ally.
‘A pivotal moment’: What’s on tap for Payments Forum
The industry’s top leaders, including The Most Influential Women in Payments, will be on hand to discuss innovation, compliance, risk, crypto and more.
DOGE says it’s saved $55B; data show much less
The Department of Government Efficiency says it has saved $55 billion in federal spending so far, but its website only accounts for $16.6 billion of that.
For true debanking reform, actions must follow words
Federal agencies need to speak with one voice when it comes to allowing legitimate crypto businesses full access to financial services.