Yesterday, the SEC announced that it is suing Kraken for operating as an unregistered securities exchange. This follows similar actions in June against the two largest crypto exchanges, Coinbase and Binance.
Zelle has started refunding imposter scam victims, after years of banks questioning their responsibility to do so.
The long-awaited new overdrafts rule from the CFPB was unveiled today.
Since Rohit Chopra took over as head of the CFPB in 2021, they have made it clear that they were going after overdraft fees and this proposed rule is the culmination of those efforts.
Savings and investing fintech Acorns has been relatively quiet since it acquired the UK neobank for kids, GoHenry, six months ago. Now...
Twitter/X has been going state-by-state obtaining money transmitter licenses. The social media platform is now approved in 12 states.
Banking as a Service (BaaS) continues to be in the crosshairs of the federal government.
The latest banks to be hit with consent orders from the FDIC are Sutton Bank and Piermont Bank.
Yesterday, the OCC issued new guidance for banks, addressing the risks of buy now pay later lending. The guidance focused on the popular "pay in 4" segment of BNPL.
Not surprisingly, the national bank regulator recommended tight oversight of third-party servicers, the importance of transparent loan terms and fraud mitigation.
The Biden Administration may have avoided AI-induced chaos by issuing a sweeping executive order to manage the risks of AI.
It was three ago last week when LendingClub closed its acquisition of Radius Bank. At that time LendingClub entered into an operating agreement with the OCC that imposed capital restraints and growth limits on the fintech pioneer.
It has finally happened. More than a decade after receiving the first spot bitcoin ETF application the SEC gave its approval yesterday.
While this was widely expected, it wasn't a slam dunk as demonstrated by the tight vote: 3-2 in favor with SEC Chair Gary Gensler providing the deciding vote.