The U.S. subsidiary of Industrial and Commercial Bank of China (ICBC) reportedly disconnected itself from an electronic settlement platform for U.S. Treasury securities operated by BNY Mellon after ICBC suffered a ransomware attack, Reuters reported Friday (Nov. 10). In the meantime, BNY Mellon is manually...
Financial institutions and payment service providers hit the ground running when the Federal Reserve launched the FedNow Service on Thursday (July 20). Many had new offerings ready to go using the nationwide payments infrastructure, which was the first to be implemented in about 40 years. At the time of...
America’s treasury secretary is warning of a tougher lending environment following two recent bank failures. In a Sunday (April 16) CNN interview, Janet Yellen said that such a pull back could affect the Federal Reserve campaign to raise interest rates. “Banks are likely to become...
Treasury Secretary Janet Yellen isn’t playing favorites, just protecting the U.S. banking system. She told lawmakers Thursday (March 16) that “Americans can feel confident that their deposits will be there when they need them” in her prepared remarks before the Senate Finance Committee. “This week’s...
March 16, 2023
Treasury Secretary Janet Yellen isn’t playing favorites, just protecting the U.S. banking system. She told lawmakers Thursday (March 16) that “Americans can feel confident that their deposits will be there when they need them” in her prepared remarks before the Senate Finance Committee. “This week’s actions demonstrate our resolute commitment to ensure that depositors’ savings […]
March 26, 2024
The U.S. has sanctioned 13 Russia-linked FinTechs for allegedly using cryptocurrency to evade bans. “Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine,” Brian Nelson, undersecretary of the U.S. Treasury for terrorism and financial intelligence, said in a Monday (March 25) announcement. “As the Kremlin seeks […]
November 10, 2023
The U.S. subsidiary of Industrial and Commercial Bank of China (ICBC) reportedly disconnected itself from an electronic settlement platform for U.S. Treasury securities operated by BNY Mellon after ICBC suffered...
July 20, 2023
Financial institutions and payment service providers hit the ground running when the Federal Reserve launched the FedNow Service on Thursday (July 20). Many had new offerings ready to go using the nationwide payments infrastructure,...
April 16, 2023
America’s treasury secretary is warning of a tougher lending environment following two recent bank failures. In a Sunday (April 16) CNN interview, Janet Yellen said that such a pull back...
