banking
5 briefs
The Stablecoin Bill Is Four Days From a Vote. Banks Just Tried to Kill It.
The CLARITY Act cleared the House with 294 votes. Banks rejected the Senate compromise the weekend before the markup. The argument is about yield. The war is about deposits.
China Told Its Banks: Ignore Washington.
Beijing invoked blocking rules for the first time, ordering Chinese companies not to comply with US sanctions on five oil refiners. It puts every Chinese bank with US dollar exposure in an impossible position.
Anthropic's AI Can Break Your Bank
Mythos finds thousands of zero-day exploits autonomously. Washington called an emergency meeting with bank CEOs. Nobody knows whether to use it or ban it.
The Government Just Told Banks an AI Model Is a Systemic Risk
When the Treasury Secretary and the Fed Chair summon Wall Street CEOs in secret over an AI model's capabilities, they are saying something they cannot say publicly: this technology can already break things we cannot fix.
Banks Spent Two Years Lobbying to Ban Stablecoin Yield. The White House Just Proved Their Numbers Don't Add Up.
The CLARITY Act was almost derailed by bank lobbying to prohibit stablecoin yield. A new White House analysis finds the ban would boost bank lending by 0.02% while costing consumers $800 million. The banks are protecting something other than what they claimed.