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.
Need for speed: Faster deal timelines may spur more bank M&A
The faster timelines for completing bank mergers this year reflects a transformed regulatory environment under the Trump administration. In several cases, deals have closed just a few months after they’ve been announced.
CSI acquires digital banking provider Apiture
The deal brings together a banking core provider and a digital banking software platform to offer an end-to-end tech product for community and regional banks.
How QR codes can boost instant payments
In Brazil, QR codes have been powering Pix, the country’s instant payment scheme, for years. Two fintechs are hoping that connecting QR codes to instant payment schemes such as FedNow will help drive uptake for instant account-to-account payments.
Fed’s Bowman: Banks, regulators must embrace emerging tech
Fed Vice Chair for Supervision Michelle Bowman warned that focusing too much on technology risks could make banks lose relevance with customers.