Markets, lawmakers scramble amid DOJ inquiry into Fed
Financial markets took a tumble Monday morning after Federal Reserve Chair Jerome Powell announced that he was the subject of a Justice Department inquiry concerning the central bank’s headquarters renovation. Lawmakers and former Fed officials decried the move as political intimidation.
It used to be a fintech partner. Now the bank is buying it.
Coastal Financial in Washington State has acquired GreenFi, one of its fintech partners. The move is designed to buy time in order to figure out the best long-term strategy for the struggling neobank.
CFPB, DOJ withdraw Biden-era opinion on immigrants and credit
Continuing to retreat from Biden-era rules, the Consumer Financial Protection Bureau and Department of Justice withdrew a 2023 advisory opinion that had cautioned about denying credit to immigrants.
Checkout.com is approved for Georgia limited bank charter
The U.K. payments processor announced its acquisition of an alternative merchant acquirer license from the state of Georgia as part of its U.S. expansion.
Wells Fargo workers at Connecticut branch reject union
The 6-2 vote represents a win for the megabank, which has been fighting a nationwide push to organize its workers. Some 28 branches have voted in favor of unionization, while three have rejected unionization.
SMBC shutters US digital unit Jenius Bank
Despite attracting $2 billion in deposits, the cloud-native unit proved too expensive to maintain, prompting a strategic retreat by parent company SMBC.
How Trump’s 10% credit cap would hit the payments industry
Analysts say credit card companies could face a major hit to earnings, while banks would also be under pressure.
Press Release: Agencies Issue 2025 Shared National Credit Program Report
PRESS RELEASE | JANUARY 12, 2026 Agencies Issue 2025 Shared National Credit Program Report WASHINGTON – Federal bank regulatory agencies today released the 2025 Shared National Credit (SNC) report that indicates credit risk associated with large, syndicated bank loans remains moderate. Credit risk trends continue to reflect the effects of borrowers’ ability to manage higher […]
Bank lobby slams Trump’s ‘devastating’ threat to credit card interest
The American Bankers Association and other groups contend the president’s plan to cap credit card interest rates at 10% would drive consumers toward less regulated, more costly alternatives.
Cato report says administration misdiagnosed debanking
A report from the Cato Institute, a libertarian think tank, released Thursday found that most sudden account closures were spurred by supervisory pressure rather than political or religious bias on the part of the banks, a finding that is at odds with the White House’s framing of the issue.