Iran scrambles inflation signals as Fed mulls interest rates
The Federal Open Market Committee is widely expected to keep interest rates steady when it concludes its regular meeting tomorrow, but rising uncertainty about inflation in the wake of the Iran war is clouding the monetary policy outlook.
Bank of America settles lawsuit with Epstein victims
Bank of America has reached a settlement in principle to resolve a class-action lawsuit filed by victims of Jeffrey Epstein.
State AGs sue HUD, OneMain; talking about stone money with M&T CEO Jones
State attorneys general sued the Department of Housing and Urban Development as well as lender OneMain Financial; M&T Bank CEO Rene Jones talks about the changing nature of money, and the stone money of Yap.
Grasshopper’s taking AI beyond the ‘confident intern’ stage
Peter Chapman, chief technology officer at Grasshopper Bank, initially saw AI as “the best intern that you could ever have.” Today the technology is taking on more advanced work at the bank.
Once, cash learned to ‘fly,’ today money needs to learn to ‘think’
More than a thousand years ago, merchants in imperial China revolutionized the concept of money by replacing metal coins with paper. A similarly transformative change — programmable money — is on the cusp of adoption today.
Another out-of-state bank unveils its Florida strategy
WesBanco in Wheeling, West Virginia, has hired a team of lenders in South Florida. It plans eventually to open branches in a bid to grab a share of the region’s expanding deposit market.
7 Forbes 30 Under 30 fintech founders who landed in court
The criminal cases against these former 30 Under 30 honorees highlight the dangers of prioritizing hypergrowth narratives over proper due diligence.
Regions re-hires Jay Darnell for commercial cards and fintech
Darnell returns to Regions, after fintech-focused stints at Visa and a community bank acquired by Huntington, as the bank accelerates its branch opening plans.
M&T Bank takes a slow and steady approach to private credit
CEO René Jones told American Banker that private-credit firms are both partners and competitors. “Today, one of the concerns is that we don’t have that full transparency, as much as we would like. And so we have to be cautious as we move in that direction,” he said.
Thirteen states sue OneMain for alleged consumer violations
New York Attorney General Letitia James and 12 of her peers alleged Monday that the personal installment lender surreptitiously adds costs for unwanted products. OneMain denied the claims.