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The Federal Reserve is set to unveil relaxed capital requirements for U.S. banks.
That’s according to a speech Thursday (March 12) by Fed Vice Chair for Supervision Michelle Bowman, who said the new proposals should arrive in the coming week.
“These changes to the capital framework eliminate overlapping requirements, right-size calibrations to match actual risk, and comprehensively...
The Commodity Futures Trading Commission (CFTC) said Thursday (March 12) that it is seeking public comment on whether it should amend or issue new regulations governing event contracts traded on prediction markets.
The regulator also reminded designated contract markets (DCMs) of their obligations under current regulations.
The request for public comment came in an advanced notice of...
Anthropic reportedly wants to sell its Claude technology to private equity (PE) firms’ clients.
The artificial intelligence (AI) startup has been in talks with PE groups like Blackstone and Hellman...
Truist Financial has teamed with Plaid to expand open banking access for its clients.
The data access agreement is designed to give customers better financial control and insights, Sherry Graziano, Truist’s head of digital, client experience and marketing, said in a Thursday (March 12) news release.
“This is just one way we’re providing a secure, personalized banking experience that...
International freight industry platform Freightos appointed its chief financial officer and interim CEO, Pablo Pinillos, as its CEO and a member of the board of directors, effective Monday (March 16).
The move comes after Freightos founder Zvi Schreiber stepped down from his role as CEO in January to pursue other entrepreneurial interests. Schreiber is now the founder of a “stealth...
FinTech Wizz Financial achieved a company milestone for cross-border transactions, according to a Thursday (March 12) press release.
Wizz completed its first stablecoin-powered cross-border remittance and treasury transaction originating from the United States, with capabilities into 80 countries, the release said.
The transaction was carried out in collaboration with BitGo’s digital...
Visa and Santander have launched an agentic commerce partnership in Latin America.
The companies announced Thursday (March 12) that they had completed a series of pilot agentic commerce transactions in five markets — Argentina, Brazil, Chile, Mexico and Uruguay — powered by Visa Intelligent Commerce (VIC) solution.
The pilot marks a “breakthrough in how consumers can securely delegate...
Cursor is reportedly seeking a valuation of $50 billion from a planned funding round.
The artificial intelligence (AI) coding startup is in talks with investors about the round, which would almost double the company’s valuation, Bloomberg News reported Thursday (March 12), citing sources familiar with the matter.
Cursor makes an AI assistant that helps programmers more efficiently...
Zelle introduced an application that permits charitable disbursements from donor advised funds (DAFs), according to a Thursday (March 12) press release emailed to PYMNTS.
The new offering, announced in partnership with Bank of America, lets nonprofits receive charitable grant funding in near real time, replacing what is normally a multiweek and paper-based process, per the release.
“...
The White House is warning that businesses seeking tariff refunds may face a long wait.
As the New York Times (NYT) reported Thursday (March 12), the administration has said in court that it could take the government up to 4.4 million hours to manually process the various refund requests.
The government’s estimate showed more than 53 million entries that were subject to the $166...