Ex-First Republic execs win dismissal of shareholder suit
A class action lawsuit against the bank’s top executives and its auditor in connection with its 2023 failure was dismissed by a federal judge, who said the court did not have the authority to hear the case.
Hendricks County Bank cuts loan underwriting time in half
Hendricks County Bank loan officers are using Abrigo’s Community Lending platform to help small-business loans get approval more quickly.
US to stop making pennies — here’s what it means for banks
The Trump administration plans to stop minting the one-cent coins early next year. Here are the potential consequences that banks and credit unions should prepare for.
Bank of America says customers like higher real-time pay limits
Payments greater than $1 million are favored among the Charlotte-based bank’s corporate clients; the U.K.’s Financial Conduct Authority taps NVIDIA for AI testing and more in this week’s global payments roundup.
Crypto market structure, other bank bills pass House panel
The House Financial Services Committee passed a crypto oversight bill in a 32-19 vote, as well as several other bills bankers support, including one to curtail abusive trigger leads in mortgage lending, in a lengthy markup.
Bessent emerges as contender to succeed Powell as Fed chair
The Treasury secretary is being touted to lead the central bank after President Donald Trump said he would name Jerome Powell’s successor “very soon.” Powell’s term as Fed chair ends in May 2026.
When it comes to CAMELS, ‘M’ should stand for ‘modernization’
The HUMPS Act, pending in Congress, would take necessary steps to begin putting some guardrails around regulators’ assessment of the quality of banks’ “management.”
Fed likely to hold steady after muted tariff impact in CPI
The government measure of inflation for May ticked up modestly, adding to the signals that the Federal Reserve is unlikely to move on interest rates when it meets next month.
CFPB lawsuit hinges on Trump’s ‘faithful’ execution of laws
The Trump administration’s plan to fire 90% of the staff at the Consumer Financial Protection Bureau has raised constitutional questions about whether courts can decide whether a president is taking “care that the Laws be faithfully executed.”
Jamie Dimon bemoans ‘grossly unfair’ Wells Fargo asset cap
The JPMorgan Chase CEO also sounded off on regulatory requirements, expressing optimism that capital rules will be scaled back.