White House report says CFPB raised borrowing costs
A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.
California community bank agrees to new union deal
Beneficial State Bank in Oakland has reached a three-year agreement with the Communications Workers of America. The deal follows a groundbreaking union pact the bank signed in 2021.
She was fired from the CFPB. Now she’s running for Congress.
Alexis Goldstein, who was terminated from the Consumer Financial Protection Bureau last week, is running for Congress in Maryland’s 6th District, which hosts a disproportionate number of federal workers.
EXCLUSIVE RESEARCH: How AI is supporting bank mortgage growth plans
Banks and credit unions are pairing AI-driven efficiency with stable staffing and cross-training to scale mortgage production as originations rebound and technology expands capacity.
MSRs in focus as Fed rethinks Basel III rules
Some observers say changes to MSR risk-weighting would have limited near-term impact and are unlikely to prompt banks to rush back.
How past successes can doom banks to weak performance in the future
Doubling down on what has worked in the past — especially if it’s still working now — may inadvertently trap banks into business models ill-suited for the future. Smart bankers make room for change before it is forced on them.
‘Skinny’ master account likely to spur litigation
The Federal Reserve is moving quickly to implement its proposed “skinny” master account, giving state-chartered fintechs more access to the central bank’s payment systems. But experts say a legal challenge to the rule is almost certain, regardless of where the Fed draws the line.
Fintech funding saw fewer, but bigger, deals in 2025
The fintech deal market has started to return to pre-pandemic levels, according to recent Pitchbook data, with boosts from big deals like Revolut’s fundraises.
NY AG issues alert on crypto-based pig butchering scams
New York Attorney General Letitia James warns that scammers are coaching victims to bypass bank security and using “second act” schemes to steal more.
Fed’s Barr outlines AI risks to finance, labor market
In a speech Tuesday, Federal Reserve Gov. Michael Barr said it was possible that artificial intelligence will boost productivity in an undisruptive way. But he said policymakers should also be wary of a financial crash if those gains are not realized or a rapid adoption that could lead to labor displacement.