Surprise Cash App slowdown spurs Block’s earnings miss
Unexpected changes in spending patterns on the P2P app caused the company to miss internal and analyst targets, resulting in a more cautious shift in its annual guidance and a plummeting stock in afterhours trading.
Trump’s CFPB guts rule mandating small business loan data
The Consumer Financial Protection Bureau will not enforce or supervise the 1071 small business lending rule, it announced in a press release. The rule requires collecting data on the race, ethnicity, gender and LGBTQ status of loan applicants.
Why Cullen/Frost isn’t too worried about tariffs
Executives at the San Antonio bank say their business customers should be able to pass along higher costs from tariffs to consumers. Still, the bank acknowledged the risk of a recession.
Trump’s plan to aid U.S. manufacturing gets boost from SBA
The Small Business Administration is backing new legislation that would double the size limit on its manufacturing loans. Supporters say the bill has support on both sides of the aisle in Washington.
‘A Pac-Man’: AI is on the cusp of eating up bank jobs
Large banks are ramping up AI investment at the same time they are reducing their workforces, though no one seems ready to publicly draw a connection between those two actions.
Ousted NCUA member warns firings are test run for Fed purge
Ex-National Credit Union Administration board member Todd Harper outlined legal, economic and political dangers of recent firings of independent regulators.
No longer optional: Cyber risk oversight for boards
U.S. Bank and Wells Fargo attorneys say cyber governance is now a legal duty for corporate boards, not just a security staff issue.
CFPB, trade groups ask a court to drop the medical debt rule
The Consumer Financial Protection Bureau sided with two trade groups in asking a federal court to vacate the medical debt rule. Consumer groups have asked to intervene and a judge has not yet ruled on the motion.
Stablecoins, blockchain adoption will be big in 2025: Citi
A report estimates that the total outstanding supply of stablecoins could grow up to $3.7 trillion by 2030 in Citi’s bull case, but more likely $1.6 trillion according to its base case.
Where Mastercard sees opportunity as U.S. travel craters
As Trump’s trade war causes politically influenced shifts, the card brand contends it is set to pick up volume in non-American corridors.