Senate Banking Committee to conduct important hearing on market structure this Thursday
Senate Banking Committee to Review Digital Asset Market Transparency Act The Senate Banking Committee is set to hold its much-anticipated markup hearing on the Digital Asset Market Transparency Act of 2025, often referred to as the Transparency Act, on Thursday, May 14th at 10:30 a.m. The Clarity Act faced significant delays after Coinbase CEO Brian […]
Significant cryptocurrency legislation set for vote in Senate Banking Committee on May 14
Senate Committee Set to Vote on Crypto Regulation Bill The Senate Banking Committee is preparing for the first vote on a key cryptocurrency regulation bill on May 14th. If the bill moves forward, it could pose challenges for the banking sector. Banks are concerned that certain provisions, particularly those limiting when stablecoins can generate interest, […]
FBI cautions that fake banking calls are deceiving customers into sending money.
Authorities are warning the public about bank fraud calls that can lead to significant financial loss for customers. These scammers pose as bank or law enforcement officials, claiming to protect customers’ money. The FBI has noted an increase in these types of calls. Victims are often convinced to transfer funds, which can result in losing […]
Senate Banking Committee will vote Wednesday on Trump’s choice for the Fed, Warsh.
Senate Banking Committee to Vote on Fed Chair Nominee Kevin Warsh The Senate Banking Committee is set to vote on Wednesday regarding President Donald Trump’s nominee, Kevin Warsh, to lead the Federal Reserve. This vote will be a significant indication of the extent of the White House’s influence over the central bank. If Warsh gets […]
CP All’s virtual banking reorganization is being examined
CPALL, a prominent Thai retail company, is encountering significant pushback concerning its plan to restructure by merging three key subsidiaries into a virtual banking framework. This comes after a formal objection from its independent directors. In early trading yesterday, CPALL’s shares dropped nearly 4%, hitting 45.25 baht per share, following a vote where six separate […]
Bessent and Powell Hold Urgent Meeting with Banking Leaders to Address Risks Posed by Anthropic’s ‘Mythos’ AI
Emergency Meeting on Cybersecurity Risks from Mythos AI Treasury Secretary Scott Bessent and Federal Reserve Chairman Jerome Powell held an urgent meeting with top Wall Street executives at the Treasury Department in Washington this week. The focus was on cybersecurity risks that have emerged from Anthropic’s latest AI model, Mythos. According to sources familiar with […]
Coinbase secures first approval from banking regulators for trust charter, enhancing custody efforts
Coinbase Moves Toward National Trust Company Approval Coinbase (COIN) announced on Thursday that it has gained initial approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a National Trust company. This marks a significant step for the company in its ambitions to function as a federally regulated cryptocurrency custodian, according […]
The banking system and the need for reserves
President Laurie Logan’s Speech Thank you for the kind introduction, Emily. It’s great to see everyone here for the 3rd Annual District 11 Banking Conference. I’m excited about the chance to bring together bankers, regulators, and others to discuss important issues like the current state of banking, ways to combat fraud, and how we can […]
Dutch Finance Ministry shuts down treasury banking portal following security breach.
Cyberattack Investigation at Dutch Ministry of Finance The Dutch Ministry of Finance has taken several systems offline, including the Treasury Banking Digital Portal, as a precaution while they investigate a cyberattack identified two weeks ago. In their announcement last week, the ministry confirmed that the security breach that occurred on March 19 did not impact […]
Close Brothers banking group plans to eliminate 600 jobs and quickly implement AI
Close Brothers Bank Plans Job Cuts Amid Financial Struggles Close Brothers, a banking group, is looking to eliminate approximately 600 jobs as it plans to accelerate the incorporation of AI technology, following a rise in losses related to compensation claims from a car finance scandal. The company, which has a workforce of about 2,600 in […]