Visa expands agentic commerce; Revolut battles Italian regulators
The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy’s accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.
Treasury proposes AML rules for stablecoin issuers
The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers.
Big AI spenders are reaping large productivity gains
American Banker data found that those who upped artificial intelligence spending by more than 25% in the last year saw major improvements in employee output.
Basel draft leaves nonbank warehouse financing in limbo
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Capital One pushes deeper into AI, business payments
Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.
Florida de novo group set to exit the starting blocks
Organizers of the Winter Park-based Portrait Bank said they exceeded their capital-raise target by a wide margin, clearing the path for a June soft launch.
A ‘blockchain dividend’ awaits banks that update their ledger systems
Banks’ core ledger systems are a sclerotic holdover from the past. The future belongs to the banks that set them aside and allow transactions to close in real time.
How AI is breaking the financial services learning curve
Emerging forms of artificial intelligence are moving so fast, traditional IT training isn’t an easy fit. New research from American Banker shows how banks are handling training.
Fed’s Jefferson ‘cautious’ about labor market gains
Federal Reserve Vice Chair Philip Jefferson said in a speech Tuesday that despite positive employment readings in recent months, he remains concerned that an economic shock could still threaten the labor market.
Santander, Webster name key business leaders ahead of merger
Santander U.S. and Webster Financial are doing integration work in advance of their pending merger, including naming business-line leaders, the banks said in separate notes.