While cryptocurrency has the ability to improve the global payment system, digital coins still pose considerable challenges to market conditions worldwide, the International Monetary Fund warned in a new report on Tuesday.

The Federal Reserve (Fed) analysts see in a longer horizon, payments solutions such as digital currencies have the potential to reduce the use of the USD.

A new fight over the debt ceiling is brewing on Capitol Hill. Senate Minority Leader Mitch McConnell has firmly dug in on refusing GOP help to renew the US's ability to pay off its bills, known as the debt ceiling. Instead, the Kentucky Republican said it's up to Democrats to raise it in order to finance their social spending plans on healthcare, education, and childcare. He insists he's not "bluffing."

Federal regulators slapped Wells Fargo with yet another fine for failing to move fast enough to compensate customers who were victims of the bank's "unsafe or unsound" practices. The Office of the Comptroller of the Currency, the banking regulator within the Treasury Department, told the scandal-plagued bank it must pay $250 million because it couldn't -— or wouldn't — make good on its promises. The punishment stems from a 2018 order that found problems with the bank's auto and home lending operations, including insufficient risk-management practices and improper fines imposed on customers.

The Biden administration last week canceled bulk shipments of dollars headed for Afghanistan as Taliban fighters were poised to take control of the capital city of Kabul, part of a continuing scramble to keep hundreds of millions of dollars out of the hands of the terrorist group, according to people familiar with the matter.

Google Pay has come a long way over the years, most recently with a complete redesign now under its belt. Not too long ago we crossed an eagerly anticipated milestone for the mobile payment app, with the service finally surpassing more than 3,000 banks in the US, and now it's adding even more.

Are crypto and blockchain going to replace traditional systems of banking and finance? And could they pose a serious threat to central banks around the world? Well… yes. Cryptocurrencies are a significant threat to banks and according to our sources, most of the latter have taken an “if you can’t beat them, join them” mindset. Keep reading to find out more about the future of monetary systems.

Banks' growing reliance on cloud computing could pose a risk to financial stability and will require stricter oversight, according to top executives from the UK's central bank.

Cryptocurrencies are financial means used outside the field of regular monetary systems. Bitcoin developed to expand the use of digital transactions, enabling a P2P transaction model. Central banks and governments have recognized the growing demand for digital currencies; some countries such as Sweden or China are progressing to become cashless.

The Bank of England and the UK’s Treasury have launched a task force to explore the use of a national digital currency, the British government announced in several press releases early Monday as part of April 2021 Fintech Week.

Central banks are accelerating their work on digital currencies and investors are taking note. Earlier this year, the Bank of International Settlements published its latest survey showing that 86% of the 65 central banks it spoke to are doing some form of work on central bank digital currencies (CBDCs), be it research, proofs of concept or pilot development.

Robinhood is drawing down lines of credit to the tune of "at least several hundred million dollars," Bloomberg reported Thursday. The quick decision to seek additional funds from its lenders, which include JPMorgan Chase and Goldman Sachs, suggest that this week's trading frenzy has put a strain on the company, according to Bloomberg's Matthew Monks and Michelle Davis.

The crooks used emulators to mimic the phones of more than 16,000 customers whose mobile bank accounts had been compromised.

Google says all of this data won’t be used for ads, but it’s still a lot of data to give to Google.

Learn about what an interest bearing account, what types of interest bearing accounts exist, and when you should consider using one.

Lawmakers, regulators, and activists across the globe Monday called for swift action into the findings of a new investigation from BuzzFeed News and the International Consortium of Investigative Journalists about corruption in the global banking system and how governments facilitate it.

HSBC’s shares in Hong Kong and Standard Chartered’s in London fell on Monday to their lowest since at least 1998 after media reports that they and other banks, including Barclays and Deutsche Bank, moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

Payments provider Mastercard has launched a digital currency testing kit to help central banks trial their own coins.

Morgan Stanley will become the first major U.S. bank to publicly disclose the how much its loans and investments contribute to climate change, the latest sign that Wall Street giants are beginning to reckon with their role in heating the planet. The move comes as financial regulators in many countries are considering whether to require greater disclosure from companies about the risks they face from climate change — and as a growing number of shareholders and investors worry about their exposure to fossil fuels that could suffer from future government policies to rein in greenhouse gas emissions.

Wells Fargo & Co will stop providing loans to a majority of its independent auto dealer customers due to the economic challenges brought on by the COVID-19 pandemic, a spokeswoman said on Tuesday.