FinTech & AI on 4 October: 5 stories

01Top story

01All stories in this issue

1. 01Exclusive: ICBA sues OCC over trust chartersThe Independent Community Bankers of America sued the OCC in federal court in Washington, DC on 2 October, arguing that its rule widening trust-charter powers is not authorised by the National Bank Act. According to the filing, the OCC has approved, conditionally or otherwise, 21 trust banks under the Trump administration, at least 13 of them crypto companies.Why it matters: After a wave of OCC trust charters for crypto firms, the lawsuit puts a legal question mark over charters already granted and those still pending. Incumbent banks have moved from objecting to suing, and the ruling will shape how much financial infrastructure crypto firms can run under a federal licence.Takeaway: Teams routing stablecoin or custody flows through newly chartered trust banks should list which partners depend on an OCC trust charter and keep a fallback provider ready. Watch the docket: an adverse ruling could force partner changes at short notice.regulationAmerican Banker
2. 02The Clearing House plots next gen settlement for on-chain networkThe Clearing House plans to launch an on-chain network in the first half of 2027 that lets banks clear and settle tokenised deposit transactions, with atomic settlement as a longer-term goal. It is also building an interface to give third parties access to its real-time payments rail and its CHIPS network, and has partnered with Quant on interoperability with fiat payment systems.Why it matters: Shared rails for tokenised deposits would give US banks an answer to stablecoins built on money they already hold. The third-party interface matters too: it could open the operator's real-time rail and CHIPS to non-bank orchestration layers.Takeaway: Teams on US rails should ask their partner banks whether they plan to join the tokenised-deposit network and track the third-party interface once its terms are published. Design routing so that a tokenised-deposit leg can be added as another rail, not a separate product.infrastructureAmerican Banker
3. 03Chime Q2 Results Beat as Prime Tier Drives Spending AccelerationChime reported second-quarter results in which total spending volume rose 20% and card purchase volume 17%, while credit's share of card volume reached 27% from 16% a year earlier. On those results and a 10% headcount cut, it raised full-year guidance to 25–26% revenue growth and a 17% adjusted EBITDA margin.Why it matters: Chime is using cash back on a secured credit card to win the direct deposit, which shows the US primary-account contest is now fought with credit and rewards rather than free checking. Higher-than-expected rewards costs in the quarter show the price neobanks pay for that strategy.Takeaway: Teams running card programmes should expect more category-based rewards and model their effect on spend concentration and margins. Limits and risk rules need to handle a growing credit share when secured cards replace debit in the mix.bankingThe Fintech Times
4. 04BNY in talks with Kraken parent Payward over infrastructure partnershipBNY is in talks with Payward, the parent of crypto exchange Kraken, over a partnership that could cover digital assets, custody, trading, payments and wealth management, CoinDesk reported, citing two people familiar with the matter. Both companies declined to comment, and there is no guarantee of a deal.Why it matters: A custody bank of BNY's scale partnering with a crypto exchange's business arm would move crypto infrastructure closer to the core of US market plumbing. Combined with BNY's own tokenised-deposit work, it would give institutional clients a bank-grade path into crypto custody, trading and payments.Takeaway: No immediate change for payment orchestration teams: the talks may not produce a deal. If they do, check whether BNY-backed custody and settlement becomes an option for stablecoin flows.cryptoCoinDesk
5. 05Nubank shuts down rumors it's buying MonzoNu Holdings said in a Form 6-K filed with the SEC on 30 September that it is not pursuing a transaction with Monzo, responding to media reports of a possible deal. The Brazil-based digital bank said its capital allocation framework is unchanged and its priorities are Brazil, Mexico, Colombia and building its presence in the US.Why it matters: With Nubank ruling itself out, Monzo loses the strategic buyer named in the reports, which puts more weight on raising fresh funding for European expansion. Nubank's stated priorities point to Latin America and the US, not a large European deal.Takeaway: No direct practical consequence for payment orchestration teams.bankingAmerican Banker

02Past issues

1. Sun4 October 2026Exclusive: ICBA sues OCC over trust charters5 storiesShowing↗
2. Sat3 October 2026EMVCo Framework Targets Consumer Intent in Agentic Payments7 storiesOpen↗
3. Fri2 October 2026Fiserv’s stablecoin system starts10 storiesOpen↗
4. Wed30 September 2026Circle and Volante partner to help banks integrate stablecoins into payment operations10 storiesOpen↗
5. Tue29 September 2026Fed proposes stablecoin rules10 storiesOpen↗
6. Sat26 September 2026Fed proposes stablecoin rules9 storiesOpen↗
7. Tue15 September 2026ECB calls on merchants to join digital euro pilot scheme12 storiesOpen↗