The economic uncertainty casting doubt on the Fed’s half-point cut
This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she’s seen didn’t convince her of the need to cut rates as much as her fellow governors thought.
Two lawsuits accuse Ally Bank of failing to protect customer data
Ally customers are blaming the bank for data breaches at its vendors, arguing that basic cybersecurity measures would have prevented the thefts.
How Walmart’s using real-time payments to battle credit cards
By enabling instant settlement for bank payments at checkout, the retailer is adding speed to an option that reduces card transaction fees. But getting consumer buy-in may be a challenge.
Texas’ Liberty Capital and Southwestern strike deal; BNY buys Archer
Liberty Capital Bancshares in Texas agreed to acquire in-state peer Southwestern Bancorp; BNY announced it will buy managed-account software company Archer; Louisiana is supporting crypto but pushing back on CBDCs; and more in this week's banking news roundup.