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Meta has a new plan for payments
MetaBank, having sold its name to Facebook, rebrands as Pathward
Inside Facebook's plans for a banking super app
Facebook learns from its mistakes in payments
Can Facebook's new payment method compete with Venmo and Zelle?
Even Amazon isn't big enough to issue its own currency: Richmond Fed
Why Diem chose to be regulated in the U.S.
Powell says Fed's digital currency should complement payments system
Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar. ... Read full article
Congress's scrutiny of tech giants could be blessing and curse for banks
House Democrats’ antitrust reform plan intended to rein in companies like Amazon and Google could help level the regulatory playing field between the banking industry and its digital competitors. It could also revive calls to break up financial behemoths. ... Read full article
Central banks want digital currencies that don’t nudge out cash
Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions. ... Read full article
Facebook Financial formed to pursue company’s commerce ambitions
Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-creator of its Libra cryptocurrency project, in charge of the initiative. ... Read full article
OCC’s proposal rightfully directs banks to upgrade
The agency’s advance notice of proposed rulemaking, which would require banks to evolve with technology, shows foresight that policymakers too often lack. ... Read full article
Libra Association names Stuart Levey as CEO ahead of regulatory push
The former Treasury Department official would be the first CEO of the digital currency association, which is seeking payment licenses in the U.S. and Europe. ... Read full article
New coronavirus funding stalls; mortgage lenders pressure Mnuchin
Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults expected. ... Read full article
Why Congress considered a digital dollar in its coronavirus response
The coronavirus stimulus package has resurrected calls for the U.S. government to offer a central bank digital currency, public mobile wallets and postal banking—controversial ideas that are hard to pull off, but exist outside the U.S. and could dent ... Read full article
Facebook weighs Libra revamp to address regulatory concerns
Facebook and its partners are considering redesigning the Libra cryptocurrency project so that the network accepts multiple coins, including those issued by central banks, in an effort to woo reluctant global regulators and rebuild momentum for the plan. ... Read full article
Intuit eyes Credit Karma; JPMorgan Chase plans U.K. digital bank
The deal, which could be announced Monday, would push the TurboTax maker into consumer finance; the bank would follow U.S. rival Goldman Sachs into the British market. ... Read full article
Banking 2025: The struggle to avoid becoming the ‘dumb utility’
In trying to adapt and survive in an increasingly tech-dominated world, banks may unintentionally give up their most valuable commodity — their relationship with the consumer, and the data that comes with it. ... Read full article
Banking 2025: Can regulators catch up to tech changes?
Policymaking has moved at an agonizingly slow speed compared with the exponential growth of technology, leaving regulators and lawmakers facing a huge task over how to keep up. ... Read full article