Banking

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Kansas City Fed rejects Custodia’s master account application

The Federal Reserve Bank of Kansas City has denied Custodia Bank’s application for a master account, according to a U.S.…

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SouthState’s Corbett forecasts another slow year for bank M&A

SouthState CEO John Corbett is forecasting a slow year for M&A in 2023 as banks grapple with uncertainty surrounding the…

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Fed issues guidelines for weighing crypto requests from non-FDIC insured banks | ABA Banking Journal

The Federal Reserve today released guidelines for how it would evaluate requests from state-charted but non-FDIC-insured banks to engage in…

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Yellen says raising debt limit is only solution to avoid fiscal crisis

Treasury Secretary Janet Yellen said the only solution to avoid a U.S. default crisis is for Congress to increase the…

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NCUA extends 18% interest ceiling for federal credit unions through 2024

The National Credit Union Administration has extended its longstanding interest rate cap on loans underwritten by federally-chartered institutions, as concerns…

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How banks should deal with AI’s risks, according to NIST

The National Institute of Standards and Technology has released risk management advice for organizations developing or using AI systems. The…

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‘A huge mistake’: Lessons from the JPMorgan-Frank fintech deal

Millions of fake students. An $18,000 payout for concocting synthetic identities. Emails that brushed off the possibility of “orange jumpsuits”…

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Debt default would make Lehman bankruptcy ‘look like a walk in the park’

WASHINGTON — If Congress can’t agree to a debt ceiling fix, Wall Street could face apocryphal consequences.  Banks and other…

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Fed denies Custodia’s member bid, dealing blow to master account hopes

Custodia Bank had been seeking membership with the Federal Reserve alongside its application for a master account with the Federal…

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How Alipay is supercharging Splitit and Checkout.com

While it’s common for payment companies to partner up to build their audience, Splitit contends its work with Chinese payment…

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