Washington State Sues to Prevent Trump Admin From Accessing Food Aid Immigration Data
The Washington State Department of Social and Health Services (DSHS) administers the federally funded Supplemental Nutrition Assistance Program (SNAP) and state-funded Food Assistance Program (FAP).
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FIS, Circle Partner to Offer Stablecoin Transactions to Financial Institutions
Fidelity National Information Services FIS -0.13%decrease; red down pointing triangle is partnering with Circle Internet Group to let financial institutions transact in the USDC stablecoin. The partnership launched after the Senate passed the Genius Act in June, which seeks to regulate the stablecoin industry. The new partnership is part of FIS' strategy to support digital assets and currencies.
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FIS Partners with Circle to Unlock Stablecoin Money Movement Functionality for Financial Institution Customers
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global financial technology leader FIS ® (NYSE: FIS) has announced a new partnership with a subsidiary of Circle Internet Group, Inc. (NYSE:CRCL) ('Circle') to give financial institutions the ability to transact in USDC, the world's largest regulated stablecoin. This partnership launches on the heels of new U.S. stablecoin legislation that paves the way for digital assets to become more integrated with traditional finance in the U.S. It is part of FIS' broader strategy to support digital assets and currencies, exemplifying FIS' strategic commitment to introduce innovative technology solutions to clients across the money lifecycle. Working together through this novel partnership, FIS and Circle will enable U.S. financial institutions to offer their customers the option to make domestic and cross-border stablecoin payments in USDC. Issued through Circle's regulated affiliates, USDC is a fully-reserved payment stablecoin that is redeemable 1:1 for US dollars. FIS' recently launched Money Movement Hub is the first FIS solution to integrate with Circle, making USDC payment functionality available to a wide range of institutions. The Money Movement Hub enables financial institutions to connect to multiple payment networks, encompassing a range of payment types, in one place. FIS will integrate its real-time payments and enhanced fraud detection solutions with Circle's blockchain-native infrastructure, providing a scalable path for financial institution customers to adopt digital assets. Jim Johnson, Co-President, Banking Solutions at FIS, commented, 'This new partnership with Circle demonstrates FIS' dedication to unlocking innovative financial technology that helps move money between the world's banks, consumers and businesses. By providing our clients with direct access to USDC functionality within a regulated and compliant framework, they in turn will be able to offer their customers greater choice in payment methods than ever before. We are helping them to embrace the latest technology to reduce the complexity and costs associated with making payments, enabling funds to flow with greater speed, accuracy and security throughout the money lifecycle.' Kash Razzaghi, Chief Business Officer at Circle, commented, 'With the GENIUS Act now enacted as U.S. law, stablecoins are converging with mainstream finance and institutions are increasingly seeking faster, more transparent and economically efficient ways to move money. Payment stablecoins represent a significant opportunity for U.S. financial institutions to modernize and stay competitive. That's why we're partnering with FIS - by combining FIS' ubiquitous banking and payments technology ecosystem with Circle's blockchain-native infrastructure and USDC, we're unlocking settlement at internet scale.' FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world's financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500 ® and the Standard & Poor's 500 ® Index. To learn more, visit Follow FIS on LinkedIn, Facebook and X.
Fast Company
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This law could make grocery stores vanish
The Trump administration's so-called ' Big, Beautiful Bill, ' which the president signed into law on July 4, could have some unwelcome impacts on U.S. grocery stores—especially those that are independently owned or in low-income neighborhoods. The bill slashed government spending on items like Medicare and Medicaid and gave massive tax cuts to corporations and the wealthiest Americans. But it also cut Supplemental Nutritional Assistance Program (SNAP) benefits, a federal program which at least 41.7 million received last year. According to the National Grocers Association (NGA), which represents independent community grocers across the U.S., as well as their wholesalers, roughly 12% of grocery store payments come from SNAP. In some rural and low-income neighborhoods, closer to 70% of sales are made using the assistance program. That means that neighborhood stores in those areas will almost undeniably see dwindling sales. In May, the Center for American Progress identified at least 27,000 grocery retailers that were likely to be the hardest hit by the bill's cuts. 'The impacts of cuts to SNAP are likely to be felt most strongly in areas with the highest rates of SNAP participation,' the report noted. 'In these communities, even if a family doesn't personally see their budget for food reduced, community residents could see their local grocer close.' Amid economic challenges that were present before the bill's passing, even major chains have been attempting major moves to stay competitive. Last year, grocery store giants Kroger and Albertsons attempted to merge. The move, which would've been the largest supermarket merger in history, was blocked by a judge after the FTC sued. 'This historic win protects millions of Americans across the country from higher prices for essential groceries—from milk, to bread, to eggs—ultimately allowing consumers to keep more money in their pockets,' the FTC said in a statement at the time. 'This victory has a direct, tangible impact on the lives of millions of Americans who shop at Kroger or Albertsons-owned grocery stores for their everyday needs, whether that's a Fry's in Arizona, a Vons in Southern California, or a Jewel-Osco in Illinois.' While SNAP recipients and grocers may suffer due to the massive cuts, some republicans have pointed to an alleged uptick in fraudulent SNAP payments as a reason for the SNAP cuts. House Speaker Mike Johnson cited a USDA statistic, which says SNAP transactions jumped 55% between the last quarter of FY2024 and the first quarter of FY2025. Those fraudulent charges, however, aren't from SNAP beneficiaries themselves, that target recipients who rely on the program.
