OCC, FDIC encourage banks to share data on fraud
The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. encouraged banks to heed Fincen guidance expanding the PATRIOT Act’s safe harbor for voluntary information sharing between banks to combat fraud.
Finance is not prepared for the coming wave of value destruction
Just as internet connectivity destroyed the market for long-distance telephone service, blockchain technology is going to make high-margin transactions, like cross-border funds transfers, dirt cheap. Established players should brace themselves.
Community banks notch rare victory in housing package
As the deadline for President Donald Trump to sign or veto a housing package looms, hanging in the balance is a reciprocal deposit provision that would give small banks more room to compete for large corporate and municipal depositors.
The housing bill will become law today. Maybe, possibly, it depends
Trump has until midnight tonight to either sign or veto the housing bill; if he does neither, it automatically becomes law.
How Wells Fargo keeps advisors by letting them go independent
As large wealth managers struggle to retain advisors seeking greater independence, Wells Fargo has taken a distinct approach with its FiNet channel. But is the loss of profit margin worth the retention gains?
SEC’s novel ETF review draws early pushback over prediction markets
On June 30, the SEC asked for public comments on the regulator’s proposed amendments to novel ETFs. About a week in, responses tilt to a hard “no thank you.”
Logan: Fed’s open market activities should be centrally cleared
Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
Security Home Mortgage, CCBank to rebrand as Accordia
The move is designed to align the two Utah-based businesses under a single unique name and comes two years after the bank acquired the home lender in 2024.
PayPal boosts its stablecoin as banks prepare to launch a shared one
The payment company’s PYUSD has launched on Polygon’s international digital asset rail as big financial institutions give potential heft to Open Standard’s pending OpenUSD.
Fed announces membership of monetary policy task forces
Federal Reserve Chair Kevin Warsh’s five policy review groups will be composed of a broad mix of business leaders, academics and former central bankers, including venture capitalist Marc Andreesen and former Fed Gov. Jeremy Stein.