/banking?utm_source=rss&utm_medium=rss&utm_campaign=section Latest articles for: Banking Copyright 2025 Â鶹´«Ã½. en-US Fri, 06 Jun 2025 23:24:38 +0000 /banking/articles/2350625?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350625 U.S. Senate Banking Committee Republicans called Friday for eliminating the Consumer Financial Protection Bureau's Federal Reserve funding as part of their proposal package for the "One Big Beautiful" budget bill, a move that could effectively restructure the agency. Fri, 06 Jun 2025 21:49:14 +0000 /banking/articles/2350424?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350424 Federal Reserve Vice Chair for Supervision Michelle Bowman on Friday previewed a sweeping industry-friendly agenda to ease burdens on smaller lenders, overhaul supervisory ratings and reevaluate capital rules as the central bank's new top regulator, drawing immediate praise for banking industry groups. Fri, 06 Jun 2025 21:39:50 +0000 /banking/articles/2350391?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350391 Stablecoin issuer Circle's explosive debut will likely stimulate more crypto listings and possibly jolt the broader pipeline of initial public offerings, capital markets attorneys say. Fri, 06 Jun 2025 21:28:11 +0000 /banking/articles/2348758?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2348758 The U.S. Supreme Court halted discovery Friday into whether the Department of Government Efficiency is an agency subject to the Freedom of Information Act, but left the door open to future, more tailored inquiries about the inner workings of the initiative. Fri, 06 Jun 2025 21:26:27 +0000 /banking/articles/2350594?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350594 Delaware-based Rhodunda Williams & Kondraschow LLC is claiming in a new lawsuit that hackers used the law firm's email to hijack a real estate transaction and have funds wired to their account at Truist Financial Corp., which lacked the needed security measures to prevent the alleged fraud. Fri, 06 Jun 2025 19:51:03 +0000 /banking/articles/2350673?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350673 The court-appointed trustee overseeing the Chapter 11 of fintech middleware firm Synapse Financial Technologies Inc. is asking a California bankruptcy judge to convert the case to a Chapter 7 liquidation, despite some customer funds remaining unaccounted for. Fri, 06 Jun 2025 18:42:18 +0000 /banking/articles/2350145?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350145 Yotta Technologies Inc., a fintech company caught in the implosion of now-bankrupt middleware company Synapse Financial Technologies Inc., has renewed claims it tossed earlier against its former partner Evolve Bank & Trust, accusing the bank of "running a Ponzi scheme" in connection with its alleged loss of millions of dollars in customer funds. Fri, 06 Jun 2025 17:11:48 +0000 /banking/articles/2348647?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2348647 ​Two recent settlements highlight how whistleblowers and the U.S. Department of Justice have been utilizing the False Claims Act to allege fraud predicated on violations of cybersecurity standards — timely lessons given new bipartisan legislation introducing potential FCA liability for artificial intelligence use, say​ attorneys Rachel Rose and Julie Bracker. Fri, 06 Jun 2025 16:57:55 +0000 /banking/articles/2349907?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2349907 The U.S. Department of Justice filed a civil complaint alleging information technology workers from North Korea evaded U.S. sanctions and accumulated millions in cryptocurrency for the benefit of the North Korean government. Fri, 06 Jun 2025 16:34:54 +0000 /banking/articles/2350328?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350328 A former senior in-house counsel for Wells Fargo Advisors won his bid to make the bank arbitrate claims he absconded with confidential information and coordinated a mass resignation of other staff when he left to work at a competing advisory firm. Fri, 06 Jun 2025 16:29:32 +0000 /banking/articles/2346240?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2346240 As bank regulators become more receptive to streamlining barriers that have historically stood in the way of de novo bank formation, and as fintechs show more interest in chartering, attorneys at Goodwin outline the types of charters available and their benefits. Fri, 06 Jun 2025 16:04:00 +0000 /banking/articles/2342370?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2342370 As the administration targets diversity, equity and inclusion efforts and law firms consider pulling back from their programs, lawyers who care about racial equity and justice can employ four strategies to create microspaces of justice, which can then be parlayed into drivers of transformational change, says Susan Sturm at Columbia Â鶹´«Ã½ School. Fri, 06 Jun 2025 15:43:05 +0000 /banking/articles/2350409?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350409 A group of 13 Democratic U.S. senators, along with Sen. Bernie Sanders, urged the Federal Housing Finance Agency to put on hold efforts from President Donald Trump to end government conservatorship for Fannie Mae and Freddie Mac, stating in a letter that reprivatizing the entities "could dramatically increase costs for families seeking to purchase a home." Fri, 06 Jun 2025 15:13:25 +0000 /banking/articles/2350555?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350555 Crypto exchange Gemini Space Station Inc. said Friday it confidentially filed for an initial public offering, marking a first step toward going public amid growing enthusiasm for crypto-related listings following stablecoin issuer Circle Internet Group Inc.'s blockbuster IPO. Fri, 06 Jun 2025 14:30:16 +0000 /banking/articles/2350404?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350404 Michael Saylor's Strategy Inc. said Friday it priced an estimated $1 billion initial public offering of preferred stock to bolster its growing stockpile of bitcoin, in a deal represented by Latham & Watkins LLP and placement agents' counsel Davis Polk & Wardwell LLP. Fri, 06 Jun 2025 11:27:09 +0000 /banking/articles/2350221?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350221 Payment systems company Fiserv Inc. got hit with a data security suit by a credit union that claims its online banking platform is full of security flaws the company has known about for years and that allow "shockingly easy" attacks by cybercriminals. Thu, 05 Jun 2025 23:14:40 +0000 /banking/articles/2350081?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2350081 A "sparse and self-serving" record provided by the U.S. Office of Personnel Management still shows the agency unlawfully directed federal agencies to fire probationary employees en masse, so a California federal court can reach a final decision now and "unwind" those terminations, a coalition including unions and advocacy groups said Thursday. Thu, 05 Jun 2025 20:48:41 +0000 /banking/articles/2349978?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2349978 Republican and Democratic lawmakers teamed up Thursday to urge federal banking regulators to revisit their bank leverage rules "with haste," pointing to U.S. Treasury market liquidity concerns and asking for details about potential adjustments under consideration. Thu, 05 Jun 2025 19:30:23 +0000 /banking/articles/2349933?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2349933 University of Medicine and Health Sciences has sued Citibank in New York federal court, accusing it of letting hackers drain its bank account even after staff repeatedly warned they had been locked out and feared a cyberattack. Thu, 05 Jun 2025 16:55:32 +0000 /banking/articles/2346221?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2346221 A U.S. Government Accountability Office report published last month makes clear that while both federal regulators and regulated entities like banks and credit unions are employing artificial intelligence to improve efficiency, they're maintaining some skepticism, say attorneys at Orrick.