"Bankers Are 'Very Concerned' About Stablecoins, Check Fraud"
Forty-eight percent of banks are exploring stablecoin issuance, but most remain wary of consumer adoption, regulatory risks, and companies like Amazon and Walmart exploiting loopholes in the GENIUS Act to attract deposits through rewards or discounts, according to IntraFi’s most recent quarterly survey of bank executives. Responses also highlighted a worsening check fraud crisis, with bankers calling for clearer fraud liability rules and regulatory action.
Fintech Takes founder and publisher Alex Johnson joined Banking with Interest this week to discuss what happens now that Congress has passed a new law to regulate stablecoins. Listen here.
"How to Get Your Bank Ready for the ‘Big Beautiful Bill'"
The new law will expand lending opportunities, boost deposits, and ease compliance burdens, but it also brings risks like rising interest rates, credit volatility, and pressure on low-income consumers. To adapt to this new financial landscape, banks must act quickly to strengthen advisory services and reallocate capital, this article says.
"CFPB to ‘Substantially’ Revamp Open Banking Rule, It Says"
The CFPB plans to “substantially” revise its open banking rule to align with new leadership priorities, leading a judge to pause an ongoing legal challenge. Fintech groups support the move, claiming that open banking will support innovation and competition.
"Big Banks Are Upgrading Their SMB Offerings. Why Community Banks Still Have the Edge"
Big banks are enhancing their digital offerings for small businesses, but many still lack basic features like real-time overdraft alerts. More importantly, a review of 11 large banks’ SMB offerings found that none included contact information for a dedicated relationship manager, one key reason community banks continue to dominate the SMB market.
"Why Jay Powell Can’t Give Trump What He Wants"
President Trump continues to press for rate cuts to lower mortgage costs. However, experts argue that inflation expectations and 10-year Treasury yields affect mortgage rates more than Fed policy, and that aggressive cuts could backfire if they undermine confidence in the Fed's ability to control inflation. The FOMC held rates steady this week, though two governors pushed for a cut.
"The Chief Risk Officer’s Blueprint for Strategic Success"
CROs can drive long-term performance and make their institutions more resilient by aligning risk management with strategy, securing critical resources, and fostering a risk-aware culture, one expert says.
"JPMorgan Teams Up with Coinbase"
One week after PNC announced a partnership with Coinbase to offer crypto-as-a-service, JPMorgan Chase has done the same. Chase customers will be able to link their bank accounts to Coinbase wallets and transfer Chase Ultimate Rewards points to Coinbase at a 1:1 rate.
In Other News
President Trump and JPMorgan CEO Jamie Dimon are back on speaking terms, a Delta flight was forced to land in Minneapolis after extreme turbulence injured 25 people, and Gen Xers are increasingly being passed over for the top job.
Thanks for reading.