BIS Proposes Hybrid Model for CBDC That Includes Retail Banks
Amid controversy surrounding the central bank digital currency (CBDC) model, the Bank for International Settlements (BIS) has proposed a new solution for the digital asset that would incorporate both a central bank and retail financial institutions. In the BIS model, the CBDC would be issued and governed by the central bank, while retail banks would […]
CFPB Files Lawsuit Over Inadequate Fraud Protection
The Consumer Financial Protection Bureau’s long-simmering probe into Zelle has come to fruition. A lawsuit has been filed against the peer-to-peer payment app’s parent company, Early Warning Services, along with three major banks for failing to combat fraud. The suit alleges that JPMorgan Chase, Wells Fargo, and Bank of America—in their efforts to catch up […]
Regulation and Technology Trends That Are Reshaping the Financial Sector
As we enter 2025, financial institutions—from banks to fintechs—must be ready to adapt to changes, particularly when it comes to regulations and technology. The geopolitical landscape remains turbulent, a new administration is preparing to take the helm in the U.S., and regulatory changes related to shifts in governments and governmental strategies will drive wider changes […]