Early Warning lands new distribution deals for Zelle, Paze
Zelle secured a deal with Alacriti to help Alacriti’s bank clients adopt person-to-person payments; Paze teamed up with Canadian payment processor Nuvei to expand merchant use of the wallet.
The proposed $20 million deposit insurance cap is too high
Congress can and should enact meaningful deposit insurance reform, but the current proposal before lawmakers is misguided. The deposit cap is excessive and the funding mechanism creates systemic risk.
OCC warns banks against violating financial privacy
The Office of the Comptroller of the Currency is telling financial institutions that they must safeguard customer data even when federal agencies request information in criminal investigations, addressing Republican concerns about debanking that arose after the Jan. 6 Capitol attack.
Huntington targets early fourth-quarter close for Texas deal
The Columbus, Ohio-based regional bank announced plans to acquire Dallas-based Veritex Financial in July. On Monday, a Huntington executive called the deal a “springboard” for additional organic growth.
Jack Henry brings stock rewards to its digital banking offerings
Bank clients of Jack Henry’s digital platform provider Banno can offer stock rewards programs directly to their customers via a partnership with Bits of Stock.
OCC: ‘debanking’ will factor into CRA, license applications
The Office of the Comptroller of the Currency said in a bulletin to banks that it will consider whether firms engaged in “politicized or unlawful debanking” when considering bank’s licensing applications and Community Reinvestment Act reviews.
FinCEN warns of surge in financially motivated sextortion
Predators often target boys ages 14 to 17, demanding money or using deepfakes to extort them.
Hassett backs Fed independence
White House National Economic Council NEC Director Kevin Hassett endorsed insulating the Fed from political pressure but echoed Trump allies’ calls for reevaluating its mission.
Marqeta names Mike Milotich permanent CEO
The appointment ends a seven-month search for a permanent CEO. Milotich was named interim CEO in February following the resignation of former CEO and director Simon Khalaf.
25 questions Trump and the Senate should be asking of every potential Fed nominee
After 60 years as a Fed watcher with the last 30 as a Fed critic, some would say Fed basher, Ken Thomas has developed a Q&A screening tool that President Trump should use for vetting Federal Reserve governors and the Senate should use for confirming them.