Why MoneyGram wants a stablecoin
In a sea of coins, the transfer firm’s CEO says that by working with partners to build its own branded coin, it can control more of the related products and lower costs.
TD insider pleads guilty in $3.4M account fraud
Cheungkin Lam fed customers’ account details to a crew that drained their balances, including $417,300 from one account that TD had to repay.
Paze ramps up marketing with NBA Finals ad
Early Warning Services’ digital wallet solicited actors Elizabeth Banks and Gabrielle Union for its second national advertising campaign as it looks to tie itself to financial institutions in the public eye.
Bessent calls inflation ‘short-term blip’
Treasury Secretary Scott Bessent downplayed senators’ concerns about higher costs for Americans, noting average yearly inflation is lower than during the pandemic, while also confirming acting Attorney General Todd Blanche’s Tuesday claim that the administration will not move forward with a $1.8 billion “anti-weaponization fund.”
Fed’s Barr: Regulatory relief increased big bank profits, not lending
The Federal Reserve’s former top regulator said recent efforts to reform regulation and supervision have boosted executive compensation and share buybacks, not the broader economy.
Billions at stake as Supreme Court mulls interest on escrow
New York borrowers want the Supreme Court to rehear a case requiring banks to pay interest on mortgage escrow accounts, due to a split among appellate courts.
The CLARITY Act should extend protections to self-custodied wallets
Regulators must move toward a more workable model that regulates the intermediaries that custody and control assets, not the underlying software. This would actually be the smarter choice, as blockchains provide transparency and thus better compliance than in traditional banking.
Reputational risk will exist whether or not regulators look for it
There is a difference between combating discrimination and forcing bankers to ignore problems.
Who really controls the Fed board?
Federal Reserve Board Governor Jerome Powell’s decision to remain on the board he once led combined with a lack of explicit rules governing Fed governance could lead to a power struggle that hasn’t been seen in a generation.
Fannie, Freddie shares dip as Pulte’s added role raises questions
Analysts said Bill Pulte’s new additional role as spy chief will further delay GSE privatization efforts, although that could change if he formally departed.