Review of Open Banking by CFPB May Create Tensions Between Banks and FinTechs
CFPB to Revisit Open Banking Rules The Consumer Financial Protection Bureau (CFPB) is set to review its open banking regulations. These rules, initially introduced last fall, address how financial data can be shared among consumers, banks, fintechs, apps, and digital wallets. They also outline liability and fee structures concerning data security and sharing between financial […]
CFPB Said to be Revising Biden’s Open Banking Rule – PYMNTS.com
The Trump administration appears to be reevaluating rules about open banking that were established during the Biden era. This information comes from a report indicating that the Consumer Financial Protection Bureau (CFPB) might revise its regulations. These alterations could pave the way for customers to share their card details with various accounts like Venmo and […]
Santander Offloads Most of Its Polish Banking Operations for $7.9 Billion – PYMNTS.com
Santander Sells Majority Stake in Polish Business to Erste Group Santander has announced a significant deal, selling most of its Polish operations to the Erste Group for $7.9 billion. This partnership, which was disclosed on May 5th, will enable Santander to tap into the payment system more effectively. The Bank of Spain noted that the […]
Congress kills rule that would have capped banking overdraft fees at $5 – KOMO
With a huge victory in the banking industry, Congress overturned the Consumer Financial Protection (CFPB) rules that limit overdraft fees to $5 for the nation’s largest banks and credit unions (over $10 billion in assets with assets of more than $10 billion in assets of more than $10 billion in assets of more than $10 […]
Switzerland’s Finance Sheriff Takes on UBS and Banking Elite – Mint
(Bloomberg) – After Stephen Walter became the Swiss financial regulator, he named himself among the bankers he overseen. They call him “sheriff.” Walter, 60, is a German citizen with decades of experience in top-level regulations, including the US, and uses turbulent periods in Switzerland to establish the open public presence of Finma, most of Zurich […]
Congress Can Repeal Biden’s Big Government Banking Mandate
The following content is sponsored by the PinPoint Policy Institute. Only a few weeks have left Congress to tear low-income Americans apart as Congress overturns President Joe Biden's overdraft fee cap rules. One of Biden's farewell gifts was to pull the rug out from under the feet of clients at low-income banks. By establishing rules […]
Truist Bank review (2025): Traditional banking with no overdraft fees – Yahoo Finance
summary: Truist is a financial services company founded as a result of the merger of BB&T Bank and SunTrust Bank. Truist provides financial products and services to individuals, small businesses, commercial, corporate and institutional clients. It operates over 1,900 branches in the US and has a network of over 2,900 ATMs. read more: The 20 […]
Senate Banking panel advances stablecoin bill
The Senate Banking Committee on Thursday voted for Advanced Act to develop a regulatory framework for payment stability. The genius act move marks a significant victory for the Trump administration and Republican lawmakers. He turned to this Congress quickly to pass stablecoin and cryptocurrency market structure laws. “For too long, there's no Stablecoins regulatory framework, […]
Bank of America cuts 150 junior jobs in investment banking
Bank of America has eliminated 150 junior bankers employment at investment banks, two sources familiar with the matter told Reuters on Tuesday. The bank's latest cuts follow similar exercises at rivals JPMorgan and Goldman Sachs, part of the annual process to reduce performance degradation. However, trading volume is below forecasts for the first half of […]
Hundreds of Santander customers in UK hit by banking problems | Banco Santander
Santander fixed an issue affecting banking services as many customers were unable to access their accounts. The bank apologized for “inconvenient” and said no customers would be “strangled out of their pockets” as a result of the suspension. Some customers were unable to make payments or transfer between accounts. According to its website, the bank […]