India launches .bank.in domain to fight fraud
India’s central bank said it would issue domains ending in .bank.in, potentially conflicting with industry-led efforts to promote .bank domains.
FDIC identifies jobs not required by law, likely eyeing cuts
Sources say the Federal Deposit Insurance Corp. is identifying redundant positions and nonessential programs for cuts, in line with Trump’s broader government efficiency efforts.
BNY first to transfer $10 million over Clearinghouse RTP network
It was the largest U.S. transaction ever to instantly settle, following The Clearing House’s new transaction ceiling that went into effect Sunday.
Canada’s VersaBank lands its first U.S. point of sale client
The Ontario-based lender announced a partnership that represents the first dividend from its recent acquisition of a Minnesota-based community bank.
Fifth Circuit halts CFPB small-business data rule — again
A federal appeals court in Texas has delayed the implementation of the Consumer Financial Protection Bureau’s small-business data reporting rule slated to go into effect in July. How the Trump administration proceeds from here could be instructive on its approach to other CFPB rules.
Flush with cash, Lumin Digital expands into loans and AI
The digital banking software provider recently received $160 million in funding and hopes to grow its bank client list as it upgrades product offerings.
Jonathan McKernan exits FDIC
McKernan, a member of the Federal Deposit Insurance Corp.’s board of directors, offered measured resistance to Biden-era bank regulation and led on a number of issues including cracking down on the influence of asset managers who hold stakes in FDIC-insured banks.
TD Bank to sell Schwab stake as part of asset-cap strategy
The Canadian bank plans to exit its 10.1% interest in the brokerage firm, allowing it to shore up capital and strategically shrink to adhere to penalties related to its historic compliance failures.
Musk’s DOGE seeks access to Treasury’s accounting data
Elon Musk will dispatch a team to gain read-only access to the government’s central accounting system.
CFPB workers told to ‘stand down,’ stop all work
Acting Consumer Financial Protection Bureau Director Russell Vought ordered bureau employees to “stand down” and perform no work, effective immediately.