Uptick in goods inflation underscores Fed uncertainty
The personal consumption expenditures index showed headline inflation flat at 2.5%, but the details of the report explain the Federal Reserve’s reluctance to adjust interest rates.
Robinhood unveils plans for new banking products
The trading app provider has debuted wealth management services, and will be rolling out banking and new AI-powered investment tools later in the year.
Federal workers appeal Trump DEI layoffs as biased, illegal
The challenge comes on the heels of decisions from judges in Maryland and California ruling in favor of laid off probationary employees.
More than 200 Democrats call for CFPB preliminary injunction
Democratic lawmakers signed an amicus brief with the D.C. District Court supporting a preliminary injunction to stop mass firings by the Trump administration at the Consumer Financial Protection Bureau.
Virginia’s governor is the latest to veto an AI bill. What’s next?
The veto aligns with President Trump’s executive order on AI, which focuses on innovation and leadership rather than consumer protection.
OCC’s Rodney Hood announces restructured financial inclusion unit
A new Office of External Relations and Strategic Partnerships will continue the work of helping banks develop affordable credit for consumers lacking a credit score using untraditional methods of determining credit-worthiness, the agency’s acting head said.
SEC nominee Atkins defends role in 2008 financial crisis
The Senate Banking Committee considered the nomination of Paul Atkins to lead the Securities and Exchange Commission, whose track record on deregulation in the lead up to the 2008 financial crisis was questioned by Democratic lawmakers. Lawmakers also considered the nomination of Jonathan Gould to lead the Office of the Comptroller of the Currency and […]
RBC plans mortgage expansion under revised US strategy
Royal Bank of Canada executives said they plan to start originating more mortgages in the United States, and they indicated that they may ditch the City National Bank brand.
Senate votes to nullify CFPB overdraft rule
The Senate voted 52-48 to overturn the Consumer Financial Protection Bureau’s rule that would cap overdraft fees at many banks at $5.
CFPB’s payday rule goes into effect in test of Trump policy
After eight years of delay, the Consumer Financial Protection Bureau could still make last-minute changes to the payday rule, which sweeps in the buy now/pay later industry.