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Financial institutions news from around the web: January 27 – 31, 2025
Written on Jan 31, 2025
The EU’s Digital Operational Resilience Act requires banks and insurance companies to restore critical IT systems within two hours, starting Friday.
The emerging technology will help merchants process payments faster and provide customers with more ways to pay, those who follow the payments industry say. It will also increasingly offer a defense against rising fraud.
Credit union trade groups’ recent campaign to defend their income tax exemption has been turned into high gear by a memo being circulated by Republican lawmakers on Capitol Hill listing it among more than 100 ways to cut government costs.
The agency’s acting chief laid out his aim for transparency in fintech partnerships, a faster bank merger approval process and a 180-degree turn on “problematic” Biden-era proposals.