Congress introduces bills to restrict prediction markets
Kalshi and Polymarket announced additional anti-insider trading guidelines as lawmakers announced multiple bills aimed at restricting the platforms this week.
Amex doubles down on AI for businesses
The lender has added a new card and plans a suite of artificial intelligence-powered technology for corporates, which face mounting pressures over tariffs and political volatility.
$300 AI tool kits let criminals bypass bank security
A TD Bank expert warned RSAC attendees that criminals use cheap printers, stolen data and AI to bypass identity verification in under five minutes.
MISMO, ALTA issue new title, settlement document guidelines
The title policy and settlement statement datasets introduce digital standards that will allow the information on forms to move as data instead of documents.
Supreme Court won’t hear mortgage firm’s appeal in CFPB case
The long-defunct Nationwide Biweekly Administration, accused in 2015 of deceptive marketing, has been ordered to pay a $7.93 million civil money penalty.
New earned wage access schemes are worsening the affordability crisis
New app-based programs resemble payday loans, often trapping users in a pattern of fee-based transactions while demanding “tips” that cost some consumers hundreds of dollars per year.
Banks sour on Senate housing bill, but may not stop passage
What was once a bipartisan and broadly popular housing bill has been weighed down with a pair of provisions that banks can’t support. Even with those headwinds, the bill is more likely than not to pass, but not without drawn-out negotiations between the House and Senate.
Fed’s Barr: No interest rate cuts until inflation is tamed
Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank’s interest rates.
Community bank with national ambitions hires new management
B2 Bank in Minnesota, which recently exited a regulatory action in connection with its banking-as-a-service business, announced the hires of a new CEO and two other senior executives.
Ally to pay $500,000 after SEC finds robo-advisor infractions
The company’s investment advisory subsidiary was dinged for failing to properly disclose that its allocation of certain client assets represented a conflict of interest.