Trump led the way on open banking; now it’s time to accelerate
President Trump’s first administration laid the foundation for open banking in the United States through market-oriented principles. His second administration now has the opportunity to build upon this foundation.
Citi must disburse federal climate grants, judge rules
U.S. District Judge Tanya Chutkan said late Tuesday night that the Environmental Protection Agency could not suspend the previously-awarded funds. The case put Citigroup in the crossfire of a legal battle between climate groups and the Trump administration.
U.S. Bancorp earnings beat expectations, expenses decline
The Minneapolis-based parent company of U.S. Bank achieved positive operating leverage during the first quarter as revenues outpaced expenses.
First Horizon maintains 2025 guidance, notes uncertainties
The Memphis-based bank said the pace and quantity of interest rate cuts will be a determining factor in its performance. In its first quarter, it saw deposit costs continue to fall, offset by soft loan growth.
Citizens Bank posts higher earnings, sells student loans
Citizens Bank’s first-quarter earnings hit expectations and the regional bank said it was selling $1.9 billion of its student loans.
Trade war could weaken banks, regulators — and competition
President Trump’s tariff regime and resulting price shocks may put additional pressure on small banks, requiring an already undermanned Federal Deposit Insurance Corp. to turn to assisted M&A deals to resolve failed banks, accelerating consolidation in the industry.
Bank of America touts readiness for ‘whatever may be’ ahead
As tariff turbulence continues, BofA is predicting a slowdown, not a downturn. But America’s second-largest bank is also signaling that it’s prepared for a more severe scenario.
OCC unsure if hacked bank data was sold on dark web
The Office of the Comptroller of the Currency says it’s still reviewing compromised emails and attachments after hackers gained access to the regulator for over a year and has not ruled out exposure of customer or supervisory data.
NY Attorney General sues EWA providers DailyPay, MoneyLion
New York AG Letitia James is suing the earned wage access companies for charging illegal, high-interest loans that would have wide-ranging implications for EWA providers. DailyPay last week filed a countersuit against James’s office.
‘A port in the storm’: Why Citi isn’t afraid of tariffs
CEO Jane Fraser said Tuesday that the bank is positioned well to handle shakiness in the global market, and is still working on its years-long overhaul.