New rules for FDIC insurance representation on digital channels include specifying that crypto assets are not deposits.
The interest-bearing accounts can help Wise compete with money transfer rivals, but it might struggle to get mainstream adoption.
The bank would be able to enforce forthcoming legislation and dole out penalties to violators.
Its consortium-like platform will promote best-practice sharing among competitors while strengthening risk controls.
The large sums that flowed out of Binance this week caused some in the community to question whether its collapse would end crypto altogether.
It helped funnel billions of dollars through US financial institutions while hiding the identities of its clients.
Central bank Gov. Philip Lowe outlined four goals and initiatives to help improve Australia’s payments system.
Bank of America is giving consumers the capability to seamlessly switch between its AI-powered chatbot and a human agent.
To protect consumers, it wants to make public all violations a firm commits. This could be the first step toward fintech regulation.
Cost challenges associated with a new reimbursement policy have spooked community banks—but customers’ love for the service could make it hard to shed.