Block doubles down on teen focus with advisory council
The payments firm is taking another step to attract younger customers, a strategy that CEO Jack Dorsey has said will promote long-term network growth.
Banks face new risks as account takeover fraud spikes 250%
Criminals are posing as support staff to drain accounts. A court ruling this year threatens to make banks — not consumers — bear the cost.
JPMorganChase to raise fees on some small-business accounts
The bank is increasing monthly and transaction fees on a business checking account for the first time since 2017.
Supreme Court doubtful on validity of independent agencies
In oral arguments held Monday morning, a majority of Supreme Court justices seemed poised to overrule a 90-year-old precedent validating multi-member independent commissions, but it remains uncertain what limits — if any — the court may impose on the president’s removal powers.
Home ends dry spell with $150M deal for Tennessee bank
The all-stock acquisition of Mountain Commerce Bancorp in Knoxville marks the Arkansas-based company’s first M&A foray since 2022.
JPMorgan hires Berkshire’s Combs for investing, advisor role
JPMorganChase hired Berkshire Hathaway’s Todd Combs for a broad role that includes advising Chief Executive Officer Jamie Dimon
Housing falls out of must-pass defense spending package
The National Defense Authorization Act will be voted on by the House without the housing package that passed through the Senate Banking Committee unanimously.
Former Fed officials: CFPB’s Vought must ask for funding
The Consumer Financial Protection Bureau’s Acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB.
Bankers going all-in on AI should take a lesson from the fate of the Concorde
The supersonic Concorde was one of aerospace technology’s greatest achievements. However, its ultimate commercial failure should be a lesson for those pushing AI into banking. Advanced technologies often develop faster than consumers’ ability to benefit from them.
Inside the brewing battle over regional Fed bank leadership
Federal Reserve watchers expect a board of governors vote in February to reappoint the 12 regional Fed bank presidents — which is typically treated as a formality — to be the next flashpoint in the White House’s effort to bring the central bank to heel.