Musk departs White House, leaving CFPB in limbo
Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE’s actions at the Consumer Financial Protection Bureau are being reviewed in federal court.
Trump, Powell discuss economic outlook at White House
The Federal Reserve chair said he made no commitments on the central bank’s next monetary policy adjustment, only that the decision would be made based on incoming data.
Bank group urges OCC to leave state preemption unchanged
In a letter to the Office of the Comptroller of the Currency, the American Bankers Association rebuffed state regulators’ calls to rescind the agency’s broad state preemption rule, defending federal law’s supremacy in the dual banking system.
RBC braces for rocky economy, boosts loan-loss provisions
A jump in provisions dragged down the Royal Bank of Canada’s profits last quarter, driven by the bank’s fears of a potential tariff-driven recession.
JPMorganChase’s high-tech payments division: A look inside
Umar Farooq and Max Neurkirchen lead an $18 billion unit that touches most of the planet. Here’s what they told American Banker about instant processing, how artificial intelligence is affecting jobs and what they look for in new leaders.
RBC misses estimates as bank prepares for souring loans
As the Canadian economy weakens in the face of US tariff uncertainty, Royal Bank of Canada and other large banks north of the border are putting aside more money for loans that are still in good standing.
Stablecoins are the very disruptive future of finance
If you are still thinking of blockchains as slow, clunky and expensive, do not feel badly. As is the story of many emerging technologies, they evolve quickly.
We need stablecoin regulation that doesn’t disadvantage banks
Until a regulatory perimeter is established, banks should tread carefully — and so should everyone else.
US economy’s first-quarter decline revised to 0.2% from 0.3%
Growth in consumer spending was revised down, but estimates for imports and business investment were raised.
The federal student loan portfolio isn’t an attractive asset
The Trump administration’s plan to shift $1.6 trillion in student loans could include a sale to a private buyer. If that’s the case, any potential purchaser has some serious due diligence to undertake.