Payoneer applies for OCC’s national trust bank charter

Payoneer has applied for a national trust bank charter from the OCC; at least seven such charters have been conditionally approved since December. This move by fintechs aims to issue and custody stablecoins.
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OCC conditionally approves Stripe subsidiary Bridge for trust charter

The Office of the Comptroller of the Currency (OCC) has conditionally approved Stripe subsidiary Bridge for a trust charter. This approval follows similar approvals given to digital-asset firms Circle, Ripple, and Paxos.
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Fed to consider changes in mortgage lending rules

The Federal Reserve is considering regulatory changes aimed at bringing mortgage lending back into the banking sector. This move comes as nonbanks have taken a significant share of mortgage originations in recent years.
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The new forces shaping for financial trust

The article emphasizes the importance of leveraging technology and data analytics to protect financial trust. It suggests that CIOs should focus on enhancing cybersecurity measures and implementing robust risk management strategies.
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Chicago suburb sues Fifth Third for ex-mayor’s alleged theft

Fifth Third Bank allegedly violated banking standards by allowing the then-mayor of Dolton to cash vendor checks without proper signatures; this could set a precedent for compliance and signature requirements.
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Ex-Schwab employee found guilty of fraud, ID theft

- A former bank employee faces up to 30 years in prison for fraud and ID theft. - The employee was hired by an unnamed Cleveland-based bank and then Charles Schwab.
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GAO details CFPB’s downsizing

• The CFPB has downsized in the last 12 months, impacting consumers financially. • A Senate Democratic report estimates the changes have cost consumers $19 billion.
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Fed ‘skinny’ account idea draws criticism

- Fintech groups criticized a Federal Reserve proposal for prototype payment accounts due to undue restrictions. - The Fed's proposal offers expanded real-time payments access but faces opposition from industry groups.
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Dive Deposits: CFPB tamps down on complaint portal

• Credit Union consumers are advised to file complaints with credit agencies first. • The CFPB provides clear guidance on this process.
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Ex-Bank of America employee pleads guilty in money laundering

A former Bank of America employee pleaded guilty in a case involving over $10 billion in fraudulent Medicare claims. The incident highlights the risk of money laundering and the importance of robust compliance measures.
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Democrats urge FDIC, OCC to scrap ‘unsafe,’ ‘unsound’ change

Senators criticize regulatory agencies for changes they believe will weaken bank supervision; no explicit action items or deadlines mentioned.
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Huntington hires BNY alum as next risk chief

Senthil Kumar will become Huntington’s Chief Risk Officer as it transitions to a Category III bank; involves higher liquidity requirements, capital buffers, and more frequent stress tests.
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Florida credit union sues Fiserv, alleging lax cybersecurity

FiCare Federal Credit Union alleges Fiserv's lax cybersecurity led to a breach and unauthorized charges. The credit union claims Fiserv informed customers they would be charged for security upgrades.
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Nubank gets conditional OCC approval for charter

Nubank receives conditional approval from the OCC for its charter; plans to fully capitalize within 12 months and open the bank within 18 months, pending approvals from the Fed and FDIC.
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Ally taps former acting OCC chief as policy adviser

Rodney Hood, former acting OCC chief and NCUA chair, will serve as a senior policy adviser to Ally CEO Michael Rhodes; No explicit mention of Texas or Texas-specific entities.
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Why voice-based scams are a growing threat to banks

- Voice scams can result in significant financial losses for both banks and customers. - Phone lines remain a critical vulnerability in the finance sector, despite being one of the oldest communication methods.
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FDIC conditionally approves Ford, GM ILC charters

Both automakers must establish their banks within 12 months and maintain a minimum 15% tier 1 leverage ratio thereafter; this does not explicitly mention Texas but could have broader implications for compliance practices.
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Payments fraud risks burgeon with AI

Artificial intelligence threats in payments are increasing; new industry trends such as agentic commerce and passkey adoption are being implemented for defense.
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Senator probes BNY for more Epstein info

Sen. Wyden requested details on 18 $1 million wire transfers linked to Jeffrey Epstein and BNY’s KYC procedures; names of individual bankers were also sought.
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Digital adoption is accelerating across credit unions — but are the systems underneath ready?

Tech adoption is increasing rapidly among small credit unions; however, underlying infrastructure issues could hinder progress. The article suggests that credit unions need to ensure their systems can support digital advancements without causing disruptions.
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Fed’s Bowman, lawmakers suggest regulatory threshold changes

The article discusses the possibility of moving away from single-metric thresholds, such as asset size, in favor of a more nuanced approach to regulation. The vice chair for supervision questioned whether this could be a better method.
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Baltimore sues fintech Dave over cash advance product

The city of Baltimore sued fintech MoneyLion over allegations of misleading marketing and high interest charges on cash advance products, claiming they were intentionally designed to trap individuals in cycles of debt. The lawsuit was filed in October.
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CFPB must request funds from Fed, court rules

• Federal judge rejected the argument that the CFPB would run out of funds in early 2026 due to the Fed not turning a profit since 2022. • This decision maintains the funding stream for the CFPB.
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Democratic AGs sue Trump administration over CFPB funding

Democratic AGs seek a court order for the CFPB to take funds from the Federal Reserve. This action aims to ensure the CFPB can continue its operations as intended.
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Fed seeks comments on ‘skinny’ account

The Federal Reserve Board voted 6-1 to gather public comment on creating a new special payments account for use by financial institutions; comments are due within the next few months.
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