Credit union leader: Banks object to ‘fact that we exist’
Scott Simpson, the next CEO of America’s Credit Unions, talked to American Banker about how he plans to fend off a “clear attempt to try to destroy the business model.”
Visa makes online payment tech the star of its Asia move
The card brand is partnering with Adyen, Worldpay and other processors to expand Click to Pay, a simplified e-commerce authentication and processing tool.
Fifth Third makes purchase to expand its payments business
The Ohio bank bought DTS Connex to expand its cash management services for businesses with multiple locations, like retailers, restaurants and health care providers.
CFPB drops investigation into Trump Jr.-affiliated BNPL lender
The Consumer Financial Protection Bureau dropped an investigation into Credova Financial, a buy now, pay later lender focused on gun financing and subsidiary of PSQ Holdings, where Donald Trump Jr. serves on the board.
Waller: ‘Nothing scary’ about crypto innovations
Federal Reserve Gov. Christopher Waller said the private sector and central bank play complementary roles in payment innovation and stressed the need to maintain that collaboration as crypto technologies become more mainstream.
Developing story: Citi’s Sieg under outside legal investigation
Bloomberg reports that Citi has enlisted a law firm to look into complaints about Andy Sieg’s behavior to current and former colleagues, including former private banking head Ida Liu.
UAD 3.6: How mortgage lenders should prepare
Say goodbye to Fannie Mae form 1004 and various addendum as lenders and appraisers have to get ready to work with the Uniform Residential Appraisal Report.
Bank boards need to reckon — right now — with the risks of AI systems
Boards of directors have ultimate responsibility for the health and safety of their banks. The deployment of AI-enabled systems opens the door to a vast array of new risk factors that they need to recognize.
Pulte calls on Bondi to probe Fed’s Cook over mortgages
FHFA Director Bill Pulte, a staunch ally of President Donald Trump, wrote a letter to Bondi and DOJ official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense.
Lawsuit against U.S. Bank tests California privacy laws
The lawsuit argues that a state law from 1967 concerning wiretapping also applies to internet tracking. Similar arguments in related cases have had mixed success.