Lawmakers issue dire warnings about quantum data threats
Experts told lawmakers that quantum computers will soon render today’s encryption obsolete — and foreign adversaries know it.
Barr: community development aids Fed’s interest rate goals
Federal Reserve Gov. Michael Barr — who until February served as the agency’s top regulator — said community development functions have benefits for the Fed’s monetary policy, supervision and research goals.
US accuses 3 Mexican financial firms of money laundering
CIBanco SA, Intercam Banco SA and brokerage Vector Casa de Bolsa SA are all “of primary money-laundering concern,” FinCEN said. Treasury Secretary Scott Bessent said they are “vital cogs in the fentanyl supply chain.”
Why used-car dealer Carvana is pushing real-time billing
Carvana and Plaid, with the help of Cross River Bank, have launched Request for Payment, which combines billing with The Clearing House’s RTP Network. The option has been slow to gain traction, but the companies are betting large-ticket purchases, such as for an automobile, will be popular.
What a Mamdani mayoral win in NYC could mean for banks
Lenders have been working to shrink their rent-regulated real estate loan portfolios since a watershed state law passed in 2019, but those plans may be accelerated.
FDIC Board of Directors Meeting
BOARD MEETING | JUNE 26, 2025 FDIC Board of Directors Meeting After consultation among Board members, the Federal Deposit Insurance Corporation decided to handle today’s Board matters notationally. Related materials will be available on the Board Matters webpage. The FDIC does not send unsolicited email. If this publication has reached you in error, or if […]
First-quarter GDP revised lower; Fed has other data on deck
Consumer spending and exports fell slightly in the latest estimate, leading to a downward revision. Imports, which dragged down overall output during the first three months of the year, also came in smaller.
The CFPB’s open banking rule can’t be vacated soon enough
Supposedly written to expand consumers’ “freedom,” the rule implementing open banking laws is actually central planning in disguise. It can’t be allowed to supplant better, market-driven solutions.
Bank stocks’ revival depends on relaxed rules, deal recovery
Lenders have been an underdog in the broader market’s rally. Now, with stress-test results and the easing of bank capital rules on the horizon, there’s a chance for bank stocks to break out.
Is regulatory independence on the way out?
Banking has long been overseen by independent agencies, though that independence has been waning for years. With the Supreme Court poised to weigh in, experts are questioning where — and whether — to redraw the line between politics and policy.