CFPB finalizes rule to supervise some Big Tech firms
The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.
Where did the money go? Latest from Synapse bankruptcy, Evolve
Banks have been returning some funds to fintech customers affected by the Synapse collapse, but a multimillion-dollar discrepancy between how much Synapse says customers are owed and how much the banks say they have remains.
Payments at the end of 2024: Lots of cliffhangers
As 2024 comes to a close, trends such as open banking, fights over credit card fees and the future of faster payments are still in flux.
Bipartisan AI bills offer starting point for next Congress
The two bills would require banking agencies to study artificial intelligence and its application in the banking sector, and would codify findings from an earlier AI working group formed by the committee.