The New York Attorney General ("NYAG") sued a bank-owned payment services company, alleging it (i) operated an unsecured platform that enabled consumer fraud and (ii) failed to implement safeguards that would have limited consumer losses.

A coalition of state, banking industry, and consumer advocacy organizations urged Congress to repeal a provision in the recently adopted GENIUS Act that grants nationwide money transmission powers to uninsured state-chartered banks with stablecoin subsidiaries.

The U.S. Department of Labor rescinded previous guidance that discouraged fiduciaries from including alternative assets in 401(k) retirement portfolios.

The American Bankers Association and state bankers associations from all 50 states urged leaders of the Senate Banking Committee and its Digital Assets Subcommittee to address "loopholes" in the recently enacted GENIUS Act as part of upcoming digital asset market structure legislation.

A firm settled FINRA charges for failing to establish a supervisory system designed to prevent unregistered municipal advisory activity.