Trump’s tariffs will lead to erosion of US global payments dominance
The president’s rush to weaponize trade policy is going to accelerate efforts by other countries to decrease their reliance on U.S.-based payments processors. That’s not in the country’s interest.
Cuts to Fed staff pay, CFPB funds blocked from tax bill
The Senate rules-keeper has decided that Republicans can’t use President Donald Trump’s multitrillion-dollar tax bill to strip all funding from the Consumer Financial Protection Bureau and to cut salaries for many Federal Reserve employees.
How Experian scores thin-file borrowers with cash-flow data
The credit bureau is working with Plaid to provide lenders with current and predictive cash-flow data for consumers that don’t have an extensive credit record.
Fannie, Freddie regulator: Powell should cut rates or quit
Bill Pulte’s social media posts saying inflation has fallen far enough added to intensified political pressure on the independent Federal Reserve chairman.
Here comes the latest race to the bottom in consumer finance
The removal of the Consumer Financial Protection Bureau as a viable regulator has thrown the doors open to the kind of unscrupulous behavior that triggered the last major financial crisis.
CFPB to cut civil penalty fund’s use for financial literacy
The Consumer Financial Protection Bureau is restricting its civil penalty fund from paying for consumer education and financial literacy programs.
Redemption opens as nation’s newest Black-owned bank
The bank’s investors hope to see the small community bank in Utah transform and grow into “a minority-owned version of Ally,” as board chair Ashley Bell put it.
Fed to reconsider how it communicates monetary policy this fall
Federal Reserve Chair Jerome Powell said the changes could touch the central bank’s quarterly economic forecasts. He also discussed downsizing at the Fed and his tenure on the Board of Governors.
Webster, UMB set to win if HSA expansion stays in tax bill
Both regional banks operate health savings account businesses, which could gain more customers, more fee revenue and more low-cost deposits if Congress includes a major HSA expansion in its final budget reconciliation bill.
Former Fed chairs warn against dissolving financial stability watchdog
A group of more than 50 bipartisan financial experts, including former Fed Chairs Ben Bernanke and Janet Yellen, said that effectively eliminating the Office of Financial Research and weakening the Financial Stability Oversight Council would have devastating effects for the financial system.