Financial Services

The Australian Banking Association is seeking regulatory approval for banks to collaborate on regional services and trial up to 10 shared hubs to preserve face-to-face banking in communities without branches. ... (more story)

The Financial Stability Board should apply more high-level principles and fewer detailed prescriptions to avoid early policy recommendations that lag in implementation in some jurisdictions, an FSB panel heade... (more story)

Bank of America was hit with a $1.2 billion penalty by US Treasury Department's Financial Crimes Enforcement Network over its failure to mitigate and report national security risks. The agency credited $750 mi... (more story)

Assurances that AI agents will always behave as expected are still lacking, the head of the UK’s Financial Conduct Authority told lawmakers Tuesday. Chief Executive Nikhil Rathi said any standards for frontier... (more story)

The European Commission has been asked to come up with a plan for the staggered rollout of the planned digital euro for the law that will regulate the digital currency, including a timescale and implementation... (more story)

Turkey’s deputy trade minister has warned that tighter European-content requirements under the EU’s proposed Industrial Accelerator Act could exclude Turkish producers, disrupt shared supply chains and raise c... (more story)

US President Donald Trump said he has formed a committee of three of his aides to hold a hearing to investigate mortgage-fraud allegations against Federal Reserve Governor Lisa Cook, months after the Supreme C... (more story)

UniCredit has requested European Commission approval for its plan to increase its ownership share of German rival Commerzbank, according to an update on the regulator's website. The intended takeover, which wi... (more story)