Texas judges repeals CFPB’s medical debt rule
A federal judge in Texas dismissed the Consumer Financial Protection Bureau’s medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.
JPMorganChase to charge data aggregators for customer data
The nation’s largest bank is planning to implement fees for access to data that has traditionally been provided free of charge. Data aggregators and fintechs accused JPMorgan of exploiting regulatory uncertainty and raising prices for consumers.
Calabria’s added role in Trump admin, Morais joins First Citizens
Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares’ board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week’s banking news roundup.
Civista in Ohio strikes deal for in-state neighbor
The buyer said its $70 million cash-and-stock deal for Farmers State Bank will boost its presence in the northeast section of Ohio, and provide plenty of low-cost deposits
Accenture, Microsoft partner on AI-driven cybersecurity
Cyber firms are teaming up with cloud providers to build faster, smarter, AI-powered defenses.
Card delinquencies fell in Q1, while interest rates rose
Historically high interest rates and falling late-payment rates suggest that credit card issuers are tightening their underwriting standards amid economic uncertainty.
Two more states usher in earned wage access laws
Connecticut has set strict new rules for EWA providers; Louisiana’s regulation is more aligned with existing state laws.
How AI agents are infiltrating business payments
Intuit and Ramp, two firms that work with fintechs that compete with banks, are using agentic artificial intelligence to automate mundane tasks.
HUD dissolves “woke” policies created by appraisal task force
The Department of Housing and Urban Development reiterated it has withdrawn a number of FHA mortgagee letters related to appraisals.
The Trump administration should dispose of the FFIEC Manual
Foisted on the banking industry decades ago, with no formal rulemaking process, the Federal Financial Institutions Examination Council Manual should be eliminated in favor of new rules crafted with the input of relevant stakeholders.