Florida’s new anti-ESG law tees up fight with federal bank regulators
A law that took effect this week allows Florida consumers to ask state regulators to investigate why a financial institution canceled an account or rejected a loan application. The law, which applies to federally chartered banks, could lead to a legal battle over the limits of state powers.
The housing paradox standing in the way of a Fed rate cut
The Federal Reserve’s struggle in bringing inflation down from its current level to its 2% target may come down to how the government measures shelter costs in the U.S., leading some experts to question whether the problem is in the economy or in how it is measured.
Banks should embrace new tools for measuring consumer financial health
The OCC’s new Vital Signs initiative gives bankers an important tool to help them assess the financial health and stability of their customers, and to help them build a strong foundation for the future.
How a community bank helped save Whole Foods from an early demise
Former employees of the Austin-based City National Bank still recall the 1981 flood that deluged the city and Whole Foods, and they take pride in the lender’s role in rescuing what was then a fledgling health food store.
Treasuries snap losing streak amid signs U.S. economy is slowing
The U.S. 30-year yield reached the highest level in a month on Monday amid predictions that a Trump presidency would lead to higher inflation.
Warren accuses Powell of giving big bank CEOs too much influence
Warren chided the Federal Reserve chairman for having multiple private meetings and talks with top executives — including 19 with JPMorgan Chase CEO Jamie Dimon.
California credit union hit with ransomware attack
The attack knocked out online banking, mobile banking and the call center at Patelco Credit Union.
A data breach at Evolve is hurting its many fintech partners
Wise, Affirm and Bilt Rewards are among the seven fintechs whose customers’ data has gotten tied up in the breach. The number of affected companies is likely to grow.
What is a BaaS bank’s responsibility post-Synapse collapse?
Reconciliation problems normally don’t happen on the scale that is playing out with Synapse and its partner banks. But banks and their fintech partners can do a better job of communicating the realities of accessing financial services through nonbank entities.
Fintechs push for a bigger global crypto payments market
Circle, Stripe and Coindesk all make moves to add scale for digital asset transactions.