How the federal student-loan overhaul may impact banks
The private student loan market figures to benefit from Republican-led changes to the much larger federal program. But other consumer lenders could face a fallout as more Americans are forced to reconsider which debt payments to prioritize.
Klarna seeks a bank license to directly rival US institutions
The buy now/pay later provider and aspiring neobank submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. to establish Klarna Bank.
The jobs market is weaker than it looks
The U.S. has created just 36,000 jobs on average every month over the last year; that’s long enough to be a trend, and a weak one at that.
Fed’s Waller says forward guidance ‘more art than science’
Federal Reserve Board Gov. Christopher Waller says he is OK with dialing down the amount of communication issued by the central bank’s monetary policy committee, but doesn’t want the central bank to throw out the baby with the bathwater.
As the US celebrates 250, remember the cradle of its banking industry
Washington, D.C., may be the epicenter of the nation’s birthday celebrations, but the financiers, financial institutions and city that funded it deserve some attention, too.
Scholars call Slaughter ruling ‘Brexit moment’ for U.S.
Banking law scholars warn the Supreme Court’s ruling in Trump v. Slaughter will further politicize bank regulation, clouding policy expectations for firms and reshaping the balance of power between the White House and financial regulators.
Chopra sworn in as secretary of new California agency
Governor Gavin Newsom announced the swearing in of Rohit Chopra as secretary of the California Business and Consumer Services Agency, Amalgamated Bank of Chicago promoted Cherie Duve to executive vice president and chief legal officer, Ramon M. Rodriguez joins USCB Financial Holdings and U.S. Century Bank as an independent director, and more in this week’s […]
The one stablecoin to rule them all?
The Open Standard consortium understands what makes a stablecoin valuable isn’t how digital it is, but how ubiquitous it is
AI-assisted code creates new kinds of risk for payment infrastructure
Now that the code underlying payment systems can be rewritten faster than its reliability can be checked, banks and payments processors need to adopt new methods of verifying that changes are safe and stable.
How banks’ Zelle limits push consumers to other options
Low daily, weekly and monthly Zelle limits can cause users to switch to other payment networks, raising the ante for banks to find solutions.