Congress needs to level the playing field for American banks
A former member of Congress and current bank chairman calls on lawmakers to pass several reforms that would allow banks to take back market share that has been lost to nonbank competitors.
State Street buys private-sector inflation data provider
The Boston-based custody bank has acquired PriceStats, a private economic researcher. The move comes at a time when federal data agencies are weathering budget cuts, political attacks and a government shutdown.
$50M of new capital primes small Georgia bank for growth
Barwick Banking Co. will have the wherewithal to accelerate its expansion in Georgia and Florida after a $50 million investment from a new venture capital platform.
How banks and fintechs are offering help during gov shutdown
The fintech SpringFour has partnered with financial institutions to connect individuals to community resources in a record-long U.S. government shutdown.
Visa, Mastercard take another crack at a fee settlement
Following a judge’s rejection of a 2024 settlement with merchants, the card networks are offering a slightly higher interchange reduction and easing card acceptance rules. It’s the latest attempt to end a legal fight that’s two decades old.
A group of bankers tries to ‘hack’ AI chatbots’ answers
Sunrise Banks and other members of the Global Alliance for Banking on Values are encouraging their employees to train the generative AI models they use, so that the models understand values-based banking.
Banks, consumer groups push back against stablecoin yield
Industry groups and consumer advocates are continuing to push for regulators to interpret the GENIUS Act’s prohibition on stablecoin interest as broadly as possible, while crypto firms pushed for a narrower interpretation, arguing that increased competition would benefit consumers.
Miran says Fed should cut 25bps in December ‘at a minimum’
Federal Reserve Governor Stephan Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.
Leave FDIC insurance where it is and tax ‘too big to fail’ banks instead
Bankers who view the FDIC as their insurance cooperative protecting them rather than a corporation protecting depositors have proposed unwarranted $10 and $20 million FDIC deposit insurance limits. There is a better solution to their concern over big bank competitive advantages.
Trump, Pulte float 50-year mortgage use in U.S.
President Trump and housing regulator Bill Pulte are considering introducing a 50-year fixed rate mortgage that Fannie Mae and Freddie Mac would purchase.