Majority of consumers trust sharing banking info with apps

Banks lure crypto experts with big bump in pay | Banks look to capitalize as crypto becomes mainstream | States to continue resistance to IRS reporting proposal Created for {EMAIL} | [Web Version]( November 3, 2021 [SIGN UP]( ⋅ [SHARE]( [] Risk Management and Insurance [] [Banks lure crypto experts with big bump in pay]( Big banks and other financial institutions, including Goldman Sachs, Fidelity, JPMorgan Chase and Wells Fargo, have hired 1,000 crypto-related workers over the past three years for jobs that receive a 20% to 30% bump in pay, according to data from Revelio Labs and Johnson Associates. Some senior crypto positions get up to a 50% pay boost, while a typical pay raise stands at about 9%, says Alan Johnson, managing director of Johnson Associates. Full Story: [Business Insider (tiered subscription model)]( (11/1), [Bloomberg]( (11/1) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [Banks look to capitalize as crypto becomes mainstream]( As consumers increasingly trade cryptocurrencies and use them for payments, banks are repositioning themselves to capitalize on that market. Banks have been actively encouraging regulators to provide guidance that they hope will level the playing field with crypto-focused fintechs that don't face the same scrutiny as traditional lenders. Full Story: [The New York Times]( (11/1) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [States to continue resistance to IRS reporting proposal]( Forbes (tiered subscription model) (10/31) [] - [BofA: Treasury market trend could harm hedge funds]( Reuters (11/1) [] Cybersecurity [] [Majority of consumers trust sharing banking info with apps]( A PYMNTS and MX Technologies report found that 59% of consumers trust their financial institutions to protect their personal information when sharing bank credentials with third-party applications. Eight percent of consumers said they use third-party financial apps, the report showed. Full Story: [PYMNTS]( (11/2) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [FTC weighs new rule on financial data breach reporting]( CyberScoop (10/28) [] Government Regulation [] [Report: Regulate stablecoin issuers like banks]( A report from the US Treasury Department-led President's Working Group on Financial Markets calls on Congress to "urgently" pass a law to regulate stablecoin issuers like banks. The report also noted that the SEC and the Commodity Futures Trading Commission have jurisdiction in regulating the markets for some stablecoins. Full Story: [The Block]( (11/1), [Reuters]( (11/1), [Financial Times (subscription required)]( (11/1), [MarketWatch (tiered subscription model)]( (11/1) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [US DOJ seeks crypto enforcement director]( Finance Magnates (10/29) [] Innovation [] [BNPL players to make a run at travel market]( Buy now/pay later companies are increasingly interested in the travel space as merchants look for flexibility at checkout, said Geoff Kott, chief revenue officer at Affirm, which recently added American Airlines as a travel partner. Booking.com has added its own BNPL product, while Klarna bought online travel planning company Inspirock last month. 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