Fed’s Waller willing to ‘look through’ tariff hike inflation
Federal Reserve Board member Christopher Waller said he would not be deterred from classifying inflation as “transitory” despite the board’s recent experience underestimating inflationary pressures.
No more Trump ‘tailwind’: Goldman now sees recession risk
Just three months after hailing a positive “sentiment shift” following last November’s election, Goldman Sachs CEO David Solomon lamented President Trump’s trade war and said “the prospect of a recession has increased.”
CFPB’s Vought orders review of all past guidance
Acting Consumer Financial Protection Bureau Director Russell Vought also directed that future guidance not use the words “shall,” “must,” “required” or “requirement” to direct parties outside the federal government, except when restating clear legal mandates.
Exclusive: Starling Bank coming to U.S. to sell core software
The U.K. challenger bank’s Engine tech unit has registered in Delaware and will soon begin hiring a small staff on the East Coast. It faces the stiff challenges all new core banking software providers face in this country.
Federal judges side with Trump in allowing CFPB firings
A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit narrowed a lower court’s injunction barring the termination of Consumer Financial Protection Bureau employees but maintained restrictions on mass firings.
How North Carolina colonized Florida’s banking industry
Just as two North Carolina universities have dominated college basketball in recent decades, two banks from the Tar Heel state have dominated much of U.S. banking since 1990, turning Florida, especially, into a “banking colony.”
U.S. Bank launches spend management app for small businesses
More than 1.4 million small businesses bank with U.S. Bank, according to the company, and it’s now offering help with managing expenses and accepting payments.
M&T Bank earnings rise but miss analysts’ expectations
The Buffalo, New York bank’s loans edged higher in the first quarter while deposits fell 1.7% from a year ago. The bank also lowered its full-year outlook for loans and deposits.
Goldman Sachs stock traders ride markets to record quarter
Equity-trading revenue rose 27% from a year earlier to $4.19 billion for the first three months of the year.
Trump’s deregulation push risks dangerous precedents
Two recent executive orders could speed up the administration’s push to rollback regulations, but they also undermine the notice-and-comment rulemaking process.