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US Senators Take on Debanking as Top Priority With New Legislation

US Senators Take on Debanking as Top Priority With New Legislation

Leave a Comment / Bank, Regulation, United States US /

U.S. senators are pushing to end politically motivated debanking, arguing regulators have misused their authority. The FIRM Act aims to ensure fair financial access. US Senators Demand Action on Debanking—Is This the End of Political Banking? The U.S. Senate Committee on Banking, Housing, and Urban Affairs announced on March 6 that Chairman Tim Scott (R-S.C.) […]

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Fat Fingers: Citigroup Mistakenly Deposits Trillion to Customer

Fat Fingers: Citigroup Mistakenly Deposits $81 Trillion to Customer

Leave a Comment / Bank, Finance, United States US /

$81 trillion was erroneously credited by Citigroup, as the customer was only meant to receive $280. The payment bypassed all Citigroup controls and had to be reversed several hours after its execution, which the bank refers to as a “near miss.” Citigroup Payment Fumble: Erroneous $81 Trillion Transfer Bypasses Controls Citigroup, one of the most

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Report: Bank of America Eyes Stablecoin Launch Pending US Regulatory Approval

Report: Bank of America Eyes Stablecoin Launch Pending US Regulatory Approval

Leave a Comment / Bank, Crypto News, Finance, Stablecoin /

Bank of America could launch a U.S. dollar-pegged stablecoin if federal lawmakers pass legislation creating a regulatory framework for such digital assets, CEO Brian Moynihan stated in a Feb. 26, 2025, interview with Fortune magazine. BOA’s Stablecoin Plans Hinge on Pending Congressional Legislation, CEO Says BOA boss Brian Moynihan likened the proposed stablecoin to a

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