The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Commodity Futures Trading Commission, and the Securities and Exchange Commision announced Thursday they had joined the Global Financial Innovation Network.
Ravi Menon says that Facebook's bid to create its own digital currency has laid bare shortcomings in cross-border payments and financial inclusion that banks and regulators must address.
Arleas Upton Kea shares her 30-year journey to become the first African-American woman to serve as deputy to the FDIC chairman and chief operating officer.
Responding to the fast pace of payments technology and its impact on privacy and data security, Mastercard plans to recruit a range of companies, educational institutions and agencies to produce a set of best practices.
The online platform lender Kabbage is making the move beyond just providing working capital loans to small businesses, putting it in direct competition with alternative acquirers and payment companies.
A letter from the Ohio Democrat claims Rodney Hood, chairman of the National Credit Union Administration, is using social media to "inappropriately curry favor with the president, seriously compromising the independence of the agency."
Huntington Bancshares and U.S. Bancorp also said in recent days that they are eliminating jobs to reduce overhead and improve profits. With net interest margins shrinking and branch traffic continuing to decline, expect more banks to follow suit, analysts say.
The Government Accountability Office determined that three Obama-era letters from the central bank related to large-bank supervision should have been submitted for congressional review.
