Fiserv, FiCare clash over passcodes in card-freeze fight
FiCare asked a judge to stop Fiserv from using automated checks to lift fraud holds. Fiserv says the credit union could have turned on one-time passcodes.
CFTC files two ‘swap’ definition change rules to White House
The federal agency’s proposed definitions characterize event contracts as swaps, but exclude “casino-style” gambling.
How RIA sellers can avoid running out of runway
Advisory practice sellers frequently wish they had taken more time for important strategic tasks before the deal, David Grau of Succession Resource Group says. He provided a list explaining why the timeline will take longer than many sellers may think.
Bowman says eSLR reform has boosted bond market function
Federal Reserve Vice Chair for Supervision Michelle Bowman said banks are making use of expanded balance sheet capacity to increase their Treasury holdings.
FHFA OIG says budget cuts will eliminate criminal probes
A top official at the Office of Inspector General says significant budget cuts will force large layoffs and essentially eliminate enforcement activities.
Open Standard’s ‘shared stablecoin’ goes live
OUSD, the new stablecoin from Open Standard, a consortium of more than 140 banks, fintechs, payments companies and crypto firms, has drawn interest, in part due to its shared economics model.
Stripe agrees to acquire small business lender Parafin
The purchase could bolster Stripe’s merchant credit product as rivals such as PayPal and Square make similar moves.
New CDFI info collection would eliminate race as criteria
A Treasury proposal would remove race and ethnicity from the criteria community development financial institutions can use to establish a targeted market population, a move that could affect institutions serving minority communities.
AI agent bank runs possible but unlikely, experts say
Technical hurdles and depositor inertia get in the way of Meta Muse or another AI agent sweeping all consumers’ deposits out of their banks any time soon.
How John Waldron could make his mark as Goldman’s next CEO
Discussions about what David Solomon’s longtime heir apparent might do as CEO surfaced following news reports that Waldron could take over as soon as next year.