DOJ asks judge to vacate subpoenas in Powell case
The Justice Department retreated from its plan to appeal a judge’s ruling blocking grand jury subpoenas in the Powell probe, opting instead for a softer legal maneuver that keeps the investigation’s future uncertain.
BNY CEO says AI is a jobs creator, not a destroyer
CEO Robin Vince defended the custody bank’s use of artificial intelligence Monday, saying that the deployment of AI allows firms to increase their investment capacity.
Western Union launches its own stablecoin
The company is officially releasing a digital asset product that it first announced back in October.
How BMO uses AI to get more of business clients’ business
The Canadian bank is using machine learning to analyze customers’ payments and provide recommendations to salespeople.
Customers sue Chime over alleged Iran-linked hack
Plaintiffs say Team 313 stole Social Security numbers and IDs. Chime says no data left its systems. None of the suits has its own evidence.
Small bank failure drip persists as FDIC fast tracks sales
Two U.S. banks have failed so far in 2026, continuing the recent pattern of smaller lenders collapsing abruptly due to firm-specific issues. January’s failure of Metropolitan Capital Bank & Trust and the early May failure of Community Bank & Trust – West Georgia both fit that mold.
Banks, credit unions still cool to BNPL
American Banker research finds that while more than 30% agree buy now/pay later is good for banks and consumers, the majority of respondents are unconvinced.
Banks are entering a $312 billion market they don’t fully understand
Banks are scrambling to find their place in a rapidly growing market for stablecoins. Before making major commitments, though, they need to be sure of the market segment they’re trying to compete in and who their opponents are.
Lenders are taking more repurchase demands to court
The litigants, with some of the industry’s deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.
Banks have a unique business model; they can still fail at it
Community Bank & Trust in Georgia, the second bank failure this year, shows what happens when bankers don’t keep things simple.