Citi scraps diversity goals, ‘DEI’ term under Trump pressure
The New York megabank facilitates much of the U.S. government’s payment network domestically and internationally, making it a major federal contractor and vulnerable to the Trump administration’s scrutiny.
Banks aren’t as worried as they should be
President Donald Trump’s concerted effort to bring the entirety of the executive branch under his direct control defies tradition, and in some cases, likely the law. Banks have thus far voiced little objection, but they should know how critical the rule of law is to their bottom line.
Think strategically, not tactically, to remedy AML failures
Too often, banks confronting a problem with their anti-money-laundering compliance opt for quick fixes that fail to address the root of the problem. Building a good corporate risk culture takes time and investment.
20 banks that closed the most branches in 2024
The top five banks in this list closed a net total of 518 branches in 2024.
What Mastercard gets with its ‘One Credential’
By enabling consumers to link multiple payment options together, the card network can counter similar moves by rival Visa and fintechs such as Curve.
Fed’s Barr urges new regulators to uphold standards
Federal Reserve Vice Chair for Supervision Michael Barr urged the Trump administration to continue reforms initiated under Biden and emphasized the importance of keeping the central bank apolitical.
Howard Lutnick gives top Cantor Fitzgerald jobs to sons
The Commerce secretary begins a Wall Street dynasty with his rapper and trader sons, Kyle and Brandon.
NY Attorney General leads coalition against CFPB shutdown
Letitia James and 22 other attorneys general have filed an amicus brief in a Maryland case challenging the dissolution of the consumer protection agency.
Bank, credit union advisory councils disbanded by Trump
President Donald Trump issued an executive order Wednesday night disbanding of three bank and credit union advisory groups.
U.K. puts Apple, Google wallets under antitrust microscope
Regulators are investigating the technology giants over concerns their financial apps are violating competition rules. That and expanding tech in emerging markets highlight this week’s American Banker global payments roundup.