Is bank M&A back?

Bank M&A gets busier in August, bolstered by pent-up demand: Eighteen banks announced agreements to sell themselves last month. It was the most active month for bank deals since July 2022.

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How banks are trying to get in front of new AI rules: It's still too soon to say exactly how the use of advanced artificial intelligence will be restricted in financial services, but banks are developing strategies mindful of potential policies.

Read more on tech: What banks need to know about Snatch ransomware

Swift partners with Visa and Wise to fend off fintechs in cross-border B2B payments: The messaging organization, which faces growing competition from newer tech firms, is working with the card network and payments company to ensure that its own offerings stay relevant.

Read more on payments: BMO joins earned wage access market via DailyPay

The Fed says it can regulate stablecoins. So why doesn't it? Federal Reserve officials have asserted that stablecoin regulation is necessary and within their jurisdiction. Observers say the central bank's crypto guidance and policies governing master accounts offer blurry visions of what shape such regulation might take.

Read more from Washington: Treasury program makes record awards to lenders in distressed areas

CFPB outlines sweeping data proposal, drawing swift bank condemnation: The Consumer Financial Protection Bureau proposed major changes to the Fair Credit Reporting Act, including eliminating all medical debt from credit reports. But banks and financial firms said the plan would upend 50 years of how courts have interpreted the law.

Massachusetts mutuals agree to merge, form multibank holding company: The parent companies of Cape Cod 5 and Fidelity Bank have agreed to combine under a multibank holding company called Mutual Bancorp. The bank units would keep their current names and operate independently but pool resources to improve efficiency.

Is your fintech one of the Best Fintechs to Work For? Nominate your company for our annual ranking before September 29. To see who won last year, check out the 2023 list.