Truist reduces 2025 revenue guidance amid market volatility
The super-regional bank cited “a material slowdown” in investment banking and trading income as one reason for the lower revenue forecast. Interest rates are also a factor, executives said.
Fifth Third CEO: deregulation will up competition for banks
Fifth Third Bancorp revised its guidance, but still expects record net interest income for 2025, even as commercial clients signal that economic volatility will drive up inflation.
Investments in payments tech, AI are up in 2025
Companies are planning to spend more on technology and artificial intelligence in 2025 when compared to last year, and AI is a choice area for investments.
Philly Fed taps Chicago Fed research chief as next president
Anna Paulson, executive vice president and director of research at the Federal Reserve Bank of Chicago, will replace outgoing Philadelphia Fed President Patrick Harker.
Trump endorses ‘termination’ of Powell as Fed chair
In a post on his social media platform Thursday morning, the president criticized the Federal Reserve’s reluctance to lower rates and said the chair’s departure “could not come soon enough.”
Lenders, too, are punished by regulators’ overzealous ‘debanking’
Whether intentionally or not, regulatory incentives and punishments drive banks out of a lending market, to the detriment of the banking industry, consumers, American business and, in the long run, regulators themselves.
Global Payments to acquire Worldpay for $24.3 billion
As part of the deal, FIS is acquiring Worldpay’s credit processing unit.
CFPB shifts enforcement to states, stops nonbank oversight
An internal Consumer Financial Protection Bureau memo says the agency will shift enforcement and supervisory work to the states and cease oversight of all nonbanks and Big Tech firms.
The cybersecurity database the government nearly defunded
The U.S. government renewed funding for CVE at the last minute. Experts say it’s time to future-proof the program against other potential lapses.
Trump’s CFPB asks for dismissal of Townstone redlining case
The Consumer Financial Protection Bureau and Townstone Financial, a Chicago mortgage lender that it sued in 2020, jointly asked a federal court to vacate a settlement, saying the case should never have been filed.