HHHunt names CFO Ann Kelly as next CEO in 2027 C-suite reset

A consortium of international FIs are planning to issue a U.S. stablecoin in early 2027; London-based OpenPayd has entered the U.S. through its acquisition of MSB USA; the U.K. fined Citi £4.7 million ($6.3 million) for hundreds of transactions in breach of sanctions against Russia; and more in this week’s banking news roundup.

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Rate increases by lenders in July completely reversed the fall in average mortgage rates recorded in June, the latest monthly analysis by Moneyfacts shows. The Moneyfacts average mortgage rate, which is calculated from all fixed rates and variables on sale, rose by 12 basis points, from 5.47% in July to 5.59% at the start of…

A growing number of software companies are turning to open-weight artificial intelligence models, including Chinese ones, due to the cost of proprietary models from U.S. AI developers, Bloomberg reported Monday (Sept. 21). Open-weight models are typically cheaper and enable firms to create their own models with their own data, thereby cutting the risk of outsourcing…