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Securities and Exchange Commission (SEC) Chairman Paul Atkins said Wednesday (Sept. 9) that “crypto’s time has come.”
In a speech delivered at the inaugural OECD Roundtable on Global Financial Markets in Paris, Atkins said that while the SEC had set policy by “ad hoc enforcement actions” in the past, it will now provide “clear, predictable rules of the road.”
Atkins pointed to the SEC’...
The Labor Department’s Office of the Inspector General said Wednesday (Sept. 10) that it has begun a review of the Bureau of Labor Statistics’ “challenges” in collecting and reporting economic data.
In a letter addressed to William J. Wiatrowski, acting commissioner of the Bureau of Labor Statistics, Laura B. Nicolosi, assistant inspector general for audit, wrote that the review was...
It’s a long way from here to Klarna’s peak $46 billion valuation from 2001, but Tuesday’s nearly 15% pop in its IPO price offered up a public markets “seal of approval” for buy now, pay later (BNPL) as a game-changing financial services play.
On Wednesday (Sept. 10), Klarna priced its U.S. IPO at $40 per share, above its earlier targeted range of $35–$37, implying an initial valuation...
Comptroller of the Currency Jonathan Gould said Wednesday (Sept. 10) that the crypto-related activities that many banks want to participate in are legally permissible and that these activities should not be stigmatized.
Speaking at a CoinDesk event in Washington, Gould said the technology and processes underlying crypto are “inherent to financial intermediation services,” Bloomberg...
Bank CEOs told lawmakers at a Senate Committee hearing Wednesday (Sept. 10) that deposit insurance reform is urgently needed in the wake of the Silicon Valley Bank collapse of 2023.
Titled “Evaluating Perspectives on Deposit Insurance Reform,” the hearing spotlighted that the banking turmoil of 2023 shone a spotlight on the shortcomings of the current system and featured...
Sam’s Club is moving artificial intelligence out of the back office and onto the sales floor.
The Walmart-owned retailer is giving frontline managers enterprise-grade AI tools to help them make decisions faster and free them from repetitive tasks, according to a Wednesday (Sept. 10) press release. The rollout positions the chain among the first retailers in the United States to put...
Food and drug retailer Albertsons Cos. has become the first retailer to deploy Google Cloud’s new Conversational Commerce agent, an artificial intelligence (AI) shopping assistant.
Albertsons Cos. is leveraging this solution in an Ask AI tool that is accessible via the search bar in the apps of all its banner stores, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme and Tom...
Treasury is quickly becoming the nerve center of finance with decisions that influence not just liquidity, but enterprise risk appetite, growth strategy, and digital transformation.
Behind this shift are the three foundational pillars of AI, cyber defense and payments optimization. The momentum behind each represents a profound reshaping of treasury’s responsibilities and capabilities...
Wells Fargo CEO Charlie Scharf said Wednesday (Sept. 10) that low-income consumers are “living on the edge.”
Speaking with CNBC’s Squawk Box, Scharf said the bank’s data shows that these consumers are spending the money they have and that their balances are below pre-pandemic levels.
In contrast, high-income consumers are thriving, per Wells Fargo data, and companies are in “really...
Amazon is reportedly developing augmented reality (AR) glasses for consumers and for delivery drivers.
The company aims to launch the consumer product late next year or early in 2027 and the delivery driver one as soon as the second quarter of 2026, The Information reported Wednesday (Sept. 10), citing unnamed sources.
Amazon did not immediately reply to PYMNTS’ request for comment....