Republicans lay out vision for revamped CFPB under Trump
Rep. Andy Barr, R-Ky., who chairs the House Financial Services Subcommittee on Financial Institutions, called the CFPB under the Biden administration and former Director Rohit Chopra an “Orwellian predator.”
Block cuts 8% of staff; Western Union leans into AI
Jack Dorsey’s payments company cut 931 jobs. Also: Western Union looks to artificial intelligence; Marqeta adds an e-marketplace; Westpac takes on scams; and more news in the global payments and fintech roundup.
Donald Trump Jr. calls crypto the future of finance
The president’s son spoke at a panel alongside the co-founders of the Trump-backed World Liberty Financial the day after it launched a new stablecoin.
Jenius Bank debuts external bank account aggregation
The digital bank announced upgrades to its online and mobile platforms that let users see financial information from multiple accounts on one dashboard.
Trump-backed World Liberty Financial launches stablecoin
The stablecoin known as USD1 will be on the Ethereum and Binance Smart Chain blockchain networks.
Treasury to phase out issuing, receiving paper checks
The Treasury will phase out the use of paper checks for most government payments in about six months. The Trump administration says the move will improve efficiency and reduce the cost of payment processing.
GOP moves closer to tax cut plan
Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.
Banks need relief from restrictive leverage capital requirements
Current leverage-based capital requirements are outdated, counterproductive and urgently need reform to better serve U.S. taxpayers, capital markets, consumers, businesses and the economy.
Held for ransom: What should you know about ransomware attacks?
Dave Cunningham, senior case manager for Alvaka shares insights on ransomware attacks, how to avoid them and what victims should do if they are targeted.
Swift’s line in the sand for a new payment message
The banking industry’s march to ISO 20022 compliance by a November deadline has been sluggish, but the messaging organization isn’t budging.