Latest News

Financial institutions news from around the web: November 7 – 11, 2022

Written on Nov 10, 2022

Mastercard will help banks offer cryptocurrency trading 
Mastercard is launching a program to let financial institutions offer cryptocurrency trading to clients. The company will act as a “bridge” between a crypto trading platform already used by PayPal and banks. Mastercard will handle regulatory compliance and security -- two core reasons banks cite for avoiding the asset class. 

Revival of off-balance-sheet financing merits close scrutiny  
Banks need more diverse funding sources, but new structures must be vetted carefully. 

U.S. banking official addresses approach to regulating crypto assets 
The acting Chairman of a US federal agency that supplies deposit insurance to U.S. depository institutions says before banks engage in crypto-asset-related activities, it is important to ensure multiple regulatory and legal issues are addressed. 

Banks processed $1.2B in ransomware-related payments in 2021, FinCEN says 
U.S. financial institutions reported a record-setting $1.2 billion worth of ransomware-related filings in 2021, a nearly 200% increase compared to the $416 million in 2020, according to a report published by the Financial Crimes Enforcement Network (FinCEN).