Epstein files present banks with the ultimate reputational risk
The Epstein files show the real-world business consequences of bankers’ personal and business relationships, but the revelations come as the Trump administration is moving to marginalize reputational risk as a factor in bank examinations.
Karen Petrou, founder of Federal Financial Analytics, dies
A highly esteemed bank policy researcher and author, Petrou was an influential voice in Washington and sharp critic of the Federal Reserve’s ultra-low interest rate policy after the 2008 financial crisis.
Trump Boosts New Tariff Rate to 15% a Day After Announcing 10%
President rushes to preserve tariff agenda following Supreme Court ruling against his use of an emergency-powers law.
Mortgage trade groups back call for updates to Basel III
In a letter to regulators, the consortium of organizations recommended regulatory changes affecting a range of rules from risk weights to warehouse financing.
BofA sharpens focus on private credit, despite rising fears
The North Carolina-based megabank is making a $25 billion commitment to private credit — the latest signal that banks are undeterred, even as Wall Street raises alarm bells about the sector.
Banks appeal ruling that upheld Illinois swipe fee ban
After a federal judge allowed a new state law to ban interchange fees on taxes and tips, a coalition of banks and credit unions struck back.
Dropping tri-merge reports hikes mortgage risk, paper claims
Research from Andrew Davidson claims a significant number of mortgage borrowers would have a wide variance in credit score if less than three pulls are used.
Treasury issues new AI risk tools for banks
A public-private group led by the Treasury issued the first two of six planned resources to help banks navigate the risks and opportunities of AI.
Bessent: ‘No one should expect’ tariff revenue to decline
Treasury Secretary Scott Bessent said in a public appearance in Dallas Friday that the administration will seek alternative means of enacting the White House’s tariff agenda after the Supreme Court struck down the tariffs as outside the bounds of the law.
Klarna stock slide extends into Friday following Q4 earnings
Shares of the neobank plummeted nearly 30% Thursday despite posting revenue over $1 billion as investors balked at up-front loan provision expenses that come with the expansion of Klarna’s longer-term installment loans.