Bank of America removes policy that excluded religious conservatives from banking services
Bank of America Revises Controversial Policy on Religious Groups Bank of America has ultimately decided to eliminate a contentious rule, one that many believe harmed charities and businesses linked to conservative religious organizations. Brian Moynihan, the CEO of BofA, faced backlash from President Trump for denying banking services after his first term in 2021. Reports […]
US banking associations request to eliminate the stablecoin yield ‘gap’ in the GENIUS Act
Banking Groups Urge Regulators to Address Stablecoin Loophole Several banking organizations, led by the Banking Policy Institute (BPI), are pushing for regulators to close a loophole they believe would allow stablecoin issuers and their affiliates to offer interest or yields on stablecoins, which they refer to as stubcoins. In a letter addressed to Congress, BPI […]
Diane Francis: Trump targets the banking sector
Trump Signs Order to Address Banking Discriminations Last week, US President Donald Trump signed an executive order aimed at stopping banks from discriminating against clients for engaging in “legal business activities” like political affiliations, religious beliefs, or ownership of cryptocurrency. In an interview with CNBC, he expressed that he feels he’s been discriminated against seriously […]
Trump signs executive order aimed at ensuring fair banking for all Americans and stopping discrimination by financial institutions
Trump’s Executive Order Aims to Ensure Fair Banking President Donald Trump has recently signed an executive order intended to guarantee fair banking practices across the United States. This order targets discrimination by financial institutions and lays out measures to counter any unjust treatment or removal of services based on political or religious beliefs. The order, […]
Block Advances Payments into Bitcoin, Banking, and BNPL
Block, the parent company of Square and Cash App, is envisioning a future for money that diverges from its historical ways. During a discussion on August 7, the executive team highlighted that fintech aspirations extend beyond mere payment processing. The aim is to create a comprehensive platform where individuals can manage their financial activities seamlessly, […]
Trump signs order aimed at limiting banking access
Trump Targets Discrimination Against Conservatives in Banking On Thursday, President Trump signed an executive order aimed at addressing what he described as discrimination against conservatives by major banks. He has instructed regulators to look into and potentially penalize financial institutions for what he terms “politicization or illegal desertion.” There’s been a longstanding grievance among conservatives […]
Reasons for losing banking access and how politicians can prevent it
For two decades, I have collaborated with policymakers and law enforcement across North America and Europe to bolster financial safeguards. These measures aim to prevent terrorism, violent extremist groups, and criminal networks from infiltrating the U.S. banking system. I have advocated for strict sanctions and worked to close enforcement loopholes. It’s been crucial to explain […]
The complicated situation of banking regulators who determine which Americans have their bank accounts closed
Sen. Tim Scott on Bank Regulators and Account Closures Senate Banking Committee Chairman Tim Scott recently shared his thoughts with Fox News Digital regarding the influence of bank regulators on American bank accounts, suggesting that these regulators play a significant role in who is allowed to keep their accounts. He emphasized that many of these […]
Accenture Expands Banking Skills in Malaysia by Acquiring Aristal
Accenture’s Acquisition Boosts Banking Services in Malaysia The recent acquisition enhances Accenture’s talent pool and capabilities, allowing them to support banks in Malaysia with system upgrades and manage significant changes, including mergers and migrations. Established in 2006, Alicetal is recognized for its quality advisory services, especially in core banking transformation. The company has a robust […]
US bank lobby opposes cryptocurrency companies’ applications for banking licenses
Banking associations in the US are calling on regulators to delay any decisions regarding banking licenses for cryptocurrency firms until more details about the proposals come to light. They argue that moving forward with these applications represents a significant shift from existing policies. In a letter to the OCC, groups including the American Bankers Association […]