A prohibition on paying interest or yield on payment stablecoins would do “very little” to protect bank lending “while forgoing the consumer benefits of competitive returns on stablecoin holdings,” according to a new report by the White House...
The Financial Crimes Enforcement Network and Office of Foreign Asset Control jointly proposed a new rule to establish BSA and sanctions compliance obligations for payment stablecoin issuers.
The lingering effects of tariffs, along with the conflict with Iran, have led most Federal Open Market Committee members to believe that reaching its 2% inflation target could take longer than anticipated, according to minutes from the FOMC’s...
The Federal Reserve proposed a new rule to let banks and credit unions use intermediaries to send transfers through the FedNow payments service, which would allow for cross-border payments.
Pittsfield Cooperative Bank in Pittsfield, Massachusetts, and Adams Community Bank in Adams, Massachusetts, are planning to merge.
The Cybersecurity and Infrastructure Security Agency has issued a joint advisory with other federal agencies warning critical infrastructure to be on heightened alert for cyberattacks related to the Iranian conflict.
