"Why Congress’ Crypto Fight Is Still Just Beginning"
The Senate passed Tuesday its version of the GENIUS Act, a stablecoin regulatory framework, and sent it to the House, which has its own STABLE Act. Pro-crypto Republicans are now debating whether to reconcile the two versions and send the bill to President Trump or combine the stablecoin bill with a broader digital-asset market-structure bill—the crypto industry’s top priority—and a CBDC ban. Some worry that passing stablecoin legislation as a standalone bill could undermine momentum for market-structure reform. On the other hand, combining the bills could put both at risk of failing.
"Fed OCC, FDIC Target Check Fraud"
The agencies proposed a number of actions to combat payments fraud, including stronger inter-agency and state collaboration, enhanced supervision, and more industry education. The announcement comes a week after a bipartisan group of senators proposed a bill that would create a task force to study payment scams.
"First Person: How Fraud Found My Family”
Speaking of fraud, a Zelle scam targeting the mother of Financial Brand’s managing editor started with a call from a person claiming to work at Chase—with a caller ID to match—who knew she had an account at the bank. For a deeper dive into a similar case, which wound up costing a consumer thousands of dollars, replay this episode of Banking with Interest.
"2025 Compensation and Talent Survey: Powering the C-Suite"
Thirty percent of bank leaders lack a succession plan for executives other than the CEO, and 73% claim their institution is likely to develop leaders through mentoring, coaching, or tuition reimbursement. Review Bank Director’s annual compensation and talent report for more insights.
"Good AI Without Good Data? Don’t Bank on It”
Lots of banks are exploring how they can use artificial intelligence to improve operations, increase efficiency, and meet regulatory demands. However, one expert stresses that successful AI adoption depends on having quality data to learn from.
"If the CFPB Goes Away, What Happens to Its Authorities?"
The Trump administration aims to dismiss around 90% of the CFPB’s workforce and is currently defending its right to do so in court. Should it succeed, the question arises: can other federal consumer protection agencies fill the void left by the CFPB?
"Prudential Unit Lends $500 Million in Private Credit to Affirm"
Prudential Financial’s investment arm is purchasing some $500 million in consumer loans from Affirm, ultimately enabling the fintech lender to finance up to $3 billion in BNPL loans.
In Other News
Large companies across the U.S. are slashing their workforces, researchers have developed a new electronic tattoo to measure mental strain, and Pope Leo is tackling threats related to artificial intelligence.
Thanks for reading.