The hurdles payment processors face in an increasingly digital age
Incumbents face the challenge of updating their infrastructure for digital payments, while newcomers are pushing to compete by using artificial intelligence, cloud hosting and other technologies.
SEC warns Robinhood that its crypto business faces lawsuit
The Securities and Exchange Commission has warned Robinhood Markets that it faces an enforcement action over its crypto business — the latest sign that the regulator isn’t letting up on its yearslong crackdown on digital assets.
Cannabis rescheduling may boost market, but banking uncertainties loom
The Drug Enforcement Administration’s early moves to reschedule cannabis could spur some banks to get interested in the market, but experts say without a legislative fix, the fundamental risks to taking on cannabis clients will remain.
Proposed credit card fee rules will benefit retailers, not consumers
Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.
On the hot seat: A banker testifies at Trump’s criminal trial
Gary Farro’s testimony focused on both the banking activity of Michael Cohen, a former Trump attorney who paid $130,000 to an adult film actress in 2016, and First Republic Bank’s due diligence work.
Regulators must reject the Capital One-Discover deal
If Capital One successfully buys Discover Financial Services, it would create an entity with an enormous amount of power. That could lead to abuses of vulnerable consumers.
Regulatory pitfalls abound in Capital One’s bid to buy Discover
The decision will turn on whether regulators think the merged company would lessen competition or pose a significant threat to the broader economy if it runs into financial distress.
Columbia struggled after Umpqua merger. Is the math starting to work?
The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he’s “laser-focused” on making Columbia a top performer again.
Small banks ‘feel like hostages’ to their core systems: OCC’s Hsu
A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
Regulators issue guidance to community banks on third-party risks
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.