Washington’s 1st Security taps numbers guy as next in line
Matt Mullet, the company’s longtime chief financial officer, said he’s spent the past year getting accustomed to the people side of management.
Banks deserve the ability to appeal regulators’ enforcement actions
As bank regulators work to create a more transparent and effective supervisory process, they should overhaul the process for appealing their rulings to include challenges to enforcement actions.
SoFi to use Bitcoin and blockchain for remittances
The digital bank is working with blockchain technology provider Lightspark to use Bitcoin networks to power its upcoming cross-border payments launch.
Huntington, Live Oak to invest in, deploy gen AI-based lending
Both banks are preparing rollouts of Casca’s software and participated in the firm’s $29 million funding round.
Feds still chasing billions in PPP fraud
The pandemic-era program yielded over $60 billion in fraudulent payments, with prosecutions expected for another five years.
U.S. Bank’s former AI chief accuses bank of discrimination
Srini Nallasivan, who was born in India, claims in a lawsuit that the Minneapolis-based bank harassed and fired him in order to replace him with a white executive. U.S. Bank denies the accusations.
Fannie, Freddie’s stress test losses ease from 2024
The tests modeled how Fannie Mae and Freddie Mac would fare after absorbing losses like a total $36.1 billion provision in credit losses in a severe downturn.
OMB documents show CDFI Fund isn’t disbursing new funds
The Office of Management and Budget under President Donald Trump has not apportioned any discretionary awards to financial institutions in the fiscal year of 2025, according to new documents released by the agency.
Brex’s global payments get a regulatory win in the EU
Brex’s second license in the European Union is a key step in cementing turning payment relationships in the EU into broader financial relationships, including card issuing and cross-selling.
Treasury seeks stablecoin AML comment from public
The Treasury Department issued a request for comment Monday, seeking input on four categories of technology that could be used to detect and combat illicit financial activity in crypto assets.