How banks are finding business use cases for stablecoins
Speakers at the Most Powerful Women in Banking conference Tuesday shared several scenarios in which banks will benefit from dollar-pegged cryptocurrency.
Capital One delivers earnings beat as it digests Discover
The McClean, Virginia-based bank said Tuesday that credit quality remained strong in the third quarter, and that it has approved a plan to buy back $16 billion of common stock.
Want to move on from banking? Build ‘portable skills’
At American Banker’s Most Powerful Women in Banking Conference in New York City, former Most Powerful Women in Banking honorees said to build skills that you can take with you outside of a big bank, and that banks should reward risk-taking and building over incremental change.
BofA treating gov’t. shutdown like natural disaster: CEO
Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association’s annual convention.
New York says banks are responsible for vendors’ cyber risk
New guidance outlines specific due diligence and oversight steps banks must take, reinforcing that they are ultimately accountable for vendor failures.
Waller proposes creation of ‘skinny’ master account
Federal Reserve Gov. Christopher Waller has directed central bank staff to explore the concept of a limited payment account, which would give nonbank entities in the payments space — including crypto firms — access to traditional payment systems.
Senate Republicans propose raising SAR threshold to $30K
Senate Banking Committee Republicans, led by committee chair Tim Scott, R-S.C., introduced a bill that would raise the mandatory reporting threshold for certain currency transactions, a move meant to ease banks’ anti-money laundering compliance obligations.
Warren calls on FDIC to again pause ILC approvals
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is urging the Federal Deposit Insurance Corp. not to approve new Industrial Loan Company charters until Congress passes a law subjecting ILCs to bank holding company rules.
Why some banks are saying yes to stablecoins, and others are saying no
Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.
Our industry is obliged to foster customers’ financial resilience
Financial services firms have a responsibility to help more people — especially younger generations — navigate an increasingly complex financial landscape with clarity, confidence and optimism.