Zelle, the popular bank-backed peer-to-peer payments service, is defending itself against a lawsuit from New York Attorney General Letitia James, who claims the platform allowed scammers to steal over $1 billion between 2017 and 2023.

In a significant move for cryptocurrency regulation, the U.S. House of Representatives passed the Genius Act this week—formally titled the Guiding and Establishing National Innovation for US Stablecoins. The bill aims to regulate payment stablecoins by prohibiting issuance from anyone other than approved issuers. Marking a first for national-level crypto legislation, the Genius Act provides a framework for stablecoin oversight in the U.S. and is expected to be signed into law by President Trump before the end of the week.

A coalition of banking industry associations, including the ABA and BPI, is pressuring the SEC to roll back its rule requiring public companies to disclose material cybersecurity breaches within four days.

In July, the Basel Committee on Banking Supervision (BCBS) released its final disclosure framework for the prudential treatment of cryptoassets, ahead of the new standard (SCO60) taking effect in January 2026. While the framework aims to provide regulatory clarity, it has been met with resistance from leading industry bodies that argue the rules do not align with the realities of crypto-related risks.

Money transfer firm Wise has been fined $4.2 million by a coalition of U.S. state regulators—including New York, Massachusetts, California, Texas, Minnesota, and Nebraska—for failing to maintain adequate anti-money laundering (AML) controls.

A coalition of major U.S. financial trade associations is urging the Securities and Exchange Commission (SEC) to revoke its cyber incident disclosure rule, citing concerns that it harms rather than protects companies and investors.

The U.S. Securities and Exchange Commission (SEC) has named Valerie Szczepanik, formerly head of the SEC’s Strategic Hub for Innovation and Financial Technology, as its first Chief AI Officer. In her new role, Szczepanik will lead the newly formed AI Task Force, signaling a strategic move by the SEC to embrace artificial intelligence as a tool for strengthening regulatory operations.

The UK Government is taking steps to simplify regulatory compliance for fintech firms, as part of its broader effort to drive economic growth. In 2024, the fintech sector attracted $3.6 billion in investment, making it a key component of the UK’s growth strategy.

Despite persistent economic headwinds and a cooling venture capital climate, UK fintech firms are poised to boost professional hiring by 32% in 2025, according to a new report from Morgan McKinley and Vacancysoft.

Barclays Bank has been hit with a £42 million fine by the UK’s Financial Conduct Authority (FCA) for failing to adequately assess and monitor money laundering risks in two high-profile client relationships.

A federal judge has granted preliminary approval for AT&T to settle numerous data breach lawsuits for $177 million. U.S. District Court Judge Ada E. Brown ruled that the settlement appears “fair, reasonable and adequate” and in the best interest of the plaintiffs.

The Office of the Comptroller of the Currency (OCC) has issued new guidance outlining the conditions under which national banks and federal savings associations can engage in crypto-asset custody and execution services.