Report: Private credit opacity poses risk to financial system
A report from the Financial Stability Board said limited transparency in the private credit market makes it difficult for regulators to monitor and understand risks, potentially masking challenges to the financial system.
Fed’s target inflation rate ticks up, raises questions about policy stance
The Personal Consumer Expenditures price index climbed to nearly 4% in April, arguably making the Fed’s interest rate less restrictive and further complicating the central bank’s path toward future rate cuts.
Fintech, once the ‘enfant terrible’ of finance, is growing up
The narrative of fintechs as dramatic disrupters of traditional finance is wearing thin these days. More and more established fintech firms have discovered the value of respectability, and deemed it to be worth the cost.
SoFi launches native stablecoin to all its banking customers
The digital bank made its SoFiUSD stablecoin available to all members on Wednesday and plans to launch tokenized deposits in the near future.
AI’s trillion-dollar dilemma
The trillions being poured into AI is putting pressure on the hyperscalers to produce a return on the investments.
Why a New York crypto license still matters to Mastercard
Even after the passage of federal legislation governing stablecoins, the card network is covering its bases as it pursues more digital asset products.
CFPB sued over new rule that would weaken fair-lending laws
Housing advocates and compliance firms are suing to block a rule from the Consumer Financial Protection Bureau that they say guts the Equal Credit Opportunity Act.
Fed’s Cook ‘prepared to raise rates’ if inflation persists
The Federal Reserve Board governor is the latest Fed official to embrace the prospect of tighter monetary policy in response to rapidly rising prices that have taken hold in recent years.
Robinhood’s bet on agentic trading and purchasing is ‘wake-up call’
The brokerage fintech launched agentic trading and an agentic credit card today that will allow AI agents to trade equities and make credit card purchases on customers’ behalf. It comes just weeks after OpenAI rolled out its own personal finance tool.
BMO says it’s finished reconfiguration of U.S. segment
The Canadian lender’s U.S. plan involved selling branches and jettisoning certain noncore relationship loan portfolios. BMO is now positioned to achieve its stateside return on equity target, CEO Darryl White said.