A major U. S. bank is stepping into the world of digital money. BNY, a well-known name in traditional banking, has just launched a new fund. This fund is not for regular investments. It's designed to support stablecoins, a type of digital money that's tied to the value of real-world currencies like the U. S. dollar. Stablecoins are becoming more popular. They're use...
The U. S. Consumer Financial Protection Bureau (CFPB) has recently suggested some big changes to the rules that prevent discrimination in the financial world. These changes could make it harder to prove that certain practices are unfair, even if they end up hurting specific groups of people. The CFPB is looking at removing a key part of the 1974 Equal Credit Opportu...
Openbank, a digital banking service under Santander, has started offering crypto trading in Spain. This move is part of a bigger trend where banks are starting to take cryptocurrencies more seriously. Just last month, bitcoin reached new highs, and this has caught the attention of many banks and their customers. Openbank's new service lets users buy, sell, and hold ...
Turkey is in the spotlight again as the Financial Action Task Force (FATF) plans to visit the country this month. This visit comes after Turkey was removed from the FATF's "grey list" last year for making progress in combating money laundering and terrorist financing. However, the country must prove it is still meeting its commitments or risk being put back on the li...
The GENIUS Act is now law, and it’s shaking up the world of stablecoins. This new rule means stablecoins will face stricter regulations, and the battle over how these rules are applied is just getting started. The act sets the stage for a two-year fight over how $250 billion in stablecoins will be handled. The main question is whether these digital coins will be con...
The Trump administration is pushing for a return to the financial excesses of the 1920s, much like the story of "The Great Gatsby. " A recent Halloween party at Mar-a-Lago, themed after the novel, featured extravagant decorations and scantily clad women, symbolizing the current administration's embrace of reckless financial policies. The 1920s saw a booming economy,...
The UK's financial watchdog has given everyone more time to chime in on a plan to make things right for people who were sold car loans unfairly. This isn't a small deal—it's expected to cost lenders a whopping 11 billion pounds. That's a lot of money, and it shows just how big this problem is. The deadline for sharing thoughts and concerns was moved to December 12, ...
In 2025, hackers linked to North Korea stole over $2 billion in cryptocurrency, setting a new record. Meanwhile, global law enforcement made significant strides, recovering $439 million and arresting hundreds of money launderers across 40 countries. This raises an important question: Are these criminals hitting a wall, or are they simply finding new ways to bypass se...
Senators Elizabeth Warren and Bernie Sanders, along with other Democratic colleagues, have expressed serious concerns about the Trump administration's push to include cryptocurrencies in 401(k) retirement plans. They argue that this move could expose millions of Americans to unnecessary financial risks. In a recent letter to key regulatory bodies, the senators highl...
In a surprising move, the top U. S. consumer finance watchdog has decided to ditch a registry that kept track of companies breaking the rules. They said it wasn't worth the cost. This decision came after they also reversed a policy that would have stopped medical debts from showing up on credit reports. The agency didn't immediately respond to requests for comments,...