Waller: ending Fed independence would be bad for policy
In a public appearance Thursday, Federal Reserve Gov. Christopher Waller said the Founding Fathers supported independent money management and undoing it now would be a mistake.
Trump delays Canada, Mexico tariffs for goods under USMCA
The president exempted Mexican and Canadian goods covered by the North American trade agreement from his 25% tariffs, offering reprieves to America’s two largest trading partners.
Cross River says its capital markets expansion is paying off
The New Jersey bank, which has been investing in its capital markets business, recently helped the fintech lender Best Egg securitize and sell $160 million of loans.
Payment execs predict an AI rush
Executives at American Banker’s Payments Forum in San Francisco said artificial intelligence and embedded finance will dominate investments in the coming year.
The tech companies building AI guardrails for banks
H20.ai, Ethos and Corridor Platforms are among the tech companies that have recently released software designed to help banks keep generative AI in check.
Sen. Tim Scott proposes bill to eliminate reputational risk
The Financial Integrity and Regulation Management Act would stop prudential regulators from writing rules or guidance that involve any use of reputational risk in supervision.
Bessent assails ‘backward-looking’ post-crisis regulation
Treasury Secretary Scott Bessent criticized post-crisis bank rules as outdated and burdensome, vowing to streamline financial regulation, revamp supervision and reduce constraints on private enterprise.
McKernan’s nomination to lead CFPB moves forward
The nomination of Jonathan McKernan to lead the Consumer Financial Protection Bureau moves to the full Senate, where he’s likely to be confirmed along party lines.
Why credit union-bank mergers have hit a lull
Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.
Achieva Credit Union appoints Eric Jenkins as new CEO
Jenkins succeeds retiring CEO Gary Regoli at the Florida-based credit union, which has acquired several community banks and launched a bitcoin service that it later shut down.