News Topic: Morning scan

New unit will work with foreign governments; standards too soft on those without conventional paychecks. ... Read full article

Politics not considered, a spokesman said in response to Dudley’s call for the Fed to stop enabling trade war; the agency lifts a two-year hiring freeze. ... Read full article

An economic downturn is likely to force industry consolidation; the legit firms only offer borrowers things they can get for free, while others are scams. ... Read full article

The banks considered an “unusual” investment banking merger; Volcker rule win will be followed by fights on capital rules, liquidity and stress tests. ... Read full article

After years of keeping a low profile, banks plan to spend in next year’s elections; the digital currency has eyes on the unbanked. ... Read full article

While bank stocks flounder, their bonds are seen as a haven against a possible recession; the senator asks bank about overdraft fees on closed accounts. ... Read full article

The FDIC and the OCC relax the rule restricting proprietary trading; home buyers with bad credit, lots of debt, or employment issues are again getting loans. ... Read full article

The power couple wants to help turn Acorns Grow from a niche app into a megabank; with many floating-rate loans, regionals’ profits drop as yields slip. ... Read full article

The president discussed the recent market turmoil with three large bank CEOs; a daily and a monthly bitcoin contract expected next month. ... Read full article

Employees saw the bank’s cybersecurity unit's shortcomings; the state seeking records related to hidden profits from the family's opioid business. ... Read full article

The former Amazon employee got info from 30 other entities, prosecutors say; another bad day for bank stocks, with 3% losses typical. ... Read full article

Offering 3% on purchases through its App Store, Apple hopes to make its competitors' phones a less-appealing option; a call for speeding up FedNow. ... Read full article

Bank shares are down more than 9% this month; the Fed has never imposed the countercyclical capital buffer before. ... Read full article

A Fed-led working group may pressure Wall Street to adopt SOFR; challenger banks with smartphone-based accounts soar. ... Read full article

The rate on a 30-year fixed-rate mortgage dropped to 3.6%, a three-year low; Mary C. Erdoes, a top bank executive, allegedly pushed back against compliance department suggestions to jettison the controversial client. ... Read full article

U.S. financial stocks are down nearly 4% this week on rate pressure, but it’s even worse for European banks; the mutual fund giant will automatically sweep investor cash into a money fund yielding 1.9%. ... Read full article

The card company is buying the corporate-services businesses of Danish payments provider Nets A/S; the online lender’s stock plunged after it missed second quarter earnings expectations. ... Read full article

The payments system, called FedNow, would go head-to-head against one built by big banks; the senator from Oregon wants Amazon to address vulnerabilities in its cloud data storage. ... Read full article