New York Federal Reserve President John Williams has met with Wall Street banks to discuss the standing repo facility, aiming to ensure its effectiveness as a monetary policy tool. The meeting, reported by the Financial Times, took place during the Fed's annual Treasury market conference. The facility, adopted in 2021, has seen increased use recently amid tightening market liquidity, although some Fed officials are puzzled why more firms have not utilized it.

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A judge has dismissed Synapse Financial Technologies' Chapter 11 bankruptcy case, nearly two years after the company's collapse left customers locked out of up to $95 million. The Consumer Financial Protection Bureau has sued Synapse for $1 to access its civil monetary penalty fund for compensating affected customers, but payments have not begun. Legal experts note that dismissals of bankruptcies of this size are unusual and were driven by the CFPB's decision to step in and pursue consumer redress.

With a record number of Americans falling behind on car payments, concerns are rising about subprime auto lenders following the recent collapses of Tricolor Holdings and PrimaLend Capital Partners. This has led to a surge in risk premiums for bonds backed by car loans, with investors demanding about 50 basis points more yield for the lowest-rated slices of subprime auto asset-backed securities.

Installment plans tied to credit cards are rapidly gaining popularity, particularly among Generation Z and middle-income consumers, according to a PYMNTS Intelligence report. Usage of private-label card installments grew 4.8% annually, while general-purpose card installments have seen a smaller increase. The trend indicates a shift toward predictable payment schedules, with store cards often offering 0% promotional rates, making them attractive for big-ticket items.

Block is updating its Cash App platform to include bitcoin features, parental controls and lending options. The update includes a bitcoin map tool, which allows users to find merchants that accept cryptocurrency, and Block is also prepping an AI feature called Moneybot to offer account insights. This move is part of a broader effort to enhance innovation, increase brand awareness and compete with digital wallet providers, such as Apple and Google.

SoFi plans to reinstate cryptocurrency trading for its 12.6 million customers by the end of 2025, highlighting the increasing integration of cryptocurrency and traditional finance. SoFi, which previously halted cryptocurrency trading amid regulatory uncertainties, also plans to introduce a stablecoin, allow loans against cryptocurrency holdings and use blockchain for remittances. This move signals broader acceptance and incorporation of crypto into mainstream financial ecosystems, driving both innovation and increased compliance demands.