Powell says DOJ served Fed subpoenas, threatened indictment
Federal Reserve Chair Jerome Powell said the central bank has been served grand jury subpoenas and been threatened with criminal indictment, moves he called “pretexts” to influence interest rates through “political pressure or intimidation.”
Google unveils new agentic commerce protocol for retailers
Universal Commerce Protocol is an open standard that establishes a common language for AI agents and systems to work together, and will allow consumers to purchase products from retailers directly through Google’s AI Mode in the browser or the Gemini app.
Vought capitulates to court order, asks for CFPB funding
Acting CFPB Director Russell Vought agreed to request $145 million in funding from the Federal Reserve, yielding to a court order to avoid a contempt citation.
Plaid hires former FDIC chair Jelena McWilliams
Jelena McWilliams, former chair of the FDIC, is joining data sharing fintech Plaid as its new president of corporate and external affairs.
Prosperity Bancshares closes one M&A deal, gets thumbs-up for another
Prosperity Bancshares is fast-tracking bank acquisitions; PNC closed its acquisition of FirstBank Holding Company; BrightBridge Credit Union finalized its merger with Arrha Credit Union; and more in this week’s banking news roundup.
With CFPB nominee lapse, Vought continues as acting director
The Senate allowed the nomination of a permanent director of the Consumer Financial Protection Bureau to lapse, giving acting Director Russell Vought more time to lead the agency on a temporary basis.
‘Chaotic web’ of tech keeps bank fraud victims in limbo
A recent fraud case shines a spotlight on the many communication disconnects caused by disjointed software systems common at larger banks. Here’s what happened to one American Banker editor.
What banks should expect from new EWA trends
Significant regulatory, legislative and business developments could shape the industry this year, putting pressure on banks to respond.
How Trump’s institutional investor homebuying ban could impact loans
President Trump’s concept, which is framed as a potential bipartisan effort, could mean a new route to a goal Dems targeted via foreclosure sale restrictions.
As QT ends, bank regulators now hold the real growth lever
As the Federal Reserve’s quantitative tightening efforts fade into history, the major engine of economic growth in the U.S. will be bank lending. Regulators should keep a close eye on where those dollars are going.