US Senator and Democratic chair of the Senate Banking Committee this week requested that the Financial Stability Oversight Council (FSOC) examine financial institutions’ use of consumer data, and the risks they pose to US financial stability.

The UK's financial regulators are to be given powers to test the resilience of big cloud providers like IBM, Google, Microsoft and Amazon and perform on-site inspections.

European regulators are pushing for new laws that would give them the power to revoke licences for firms in serious breaches of anti-money laundering rules.

Source: Marqeta

Marqeta, the global modern card issuing platform, has today released its 2022 State of Consumer Money Movement report looking at consumer payment, banking and shopping preferences, showing digital adoption is on the rise.

Solidus Labs, a digital asset risk surveillance firm founded by ex-Goldman Sachs engineers, has secured a $45 million B round led by Liberty City Ventures and joined by Evolution Equity Partners, Declaration Partners, and angels including former US Acting Comptroller of the Currency Brian Brooks and former CFTC Chairman Christopher Giancarlo.

Banco Santander has used bespoke, in-house developed software to digitise its core banking platform, already migrating 80% of its IT infrastructure to the cloud.

Nationwide Building Society says that the introduction of Strong Customer Authentication (SCA) rules in March is helping it stop 2000 cases of online card fraud a month.