Highlight of the Week
Regulators Exploring How Banks Can Maintain Crypto Assets
-U.S. bank regulators are trying to provide a roadmap for banks to engage with crypto assets.
-The roadmap would provide rules over holding cryptocurrency to facilitate client trading, using them as collateral for loans, or even holding them on the balance sheet like more traditional assets.
Bank of America Sees Itself as a Technology Company
-Bank of America CEO Brian Moynihan sees his firm as a financial technology company on the cutting edge of digital innovation.
-Bank of America spends about $3.5 billion a year on new code implementation. Digital payments have continued to be a key component of Bank of America’s business.
Wells Fargo to Introduce Virtual Assistant, “Fargo”
-Wells Fargo is introducing a virtual assistant to help convert more retail banking customers into digital users.
-The virtual assistant, “Fargo”, will be able to execute tasks including paying bills, sending money, and offering transaction details and budgeting advice.
Braves Win World Series Game 1
-The Braves won game 1 over the Astros 6-2 in Houston. Jorge Soler hit the first leadoff home run in the history of World Series Game 1’s.
-While the Braves earned the win, they did lose their starting pitcher, Charlie Morton, to a fractured fibula. He will miss the remainder of the series.