CFPB leaders planned to gut the bureau, fire 1,175 employees
The Trump administration intended to gut the Consumer Financial Protection Bureau through a mass workforce reduction, which could be a smoking gun in a court battle with the bureau’s union.
Commercial cards are getting hot. How banks can respond
The multi-trillion-dollar global market has opportunities and potential pitfalls for banks.
First Busey closes acquisition of CrossFirst
First Busey finalized its acquisition of CrossFirst Bankshares; American Express agreed to buy expense management firm Center; Valley National Bank appointed a new president of commercial banking and a new CFO; and more in this week’s banking news roundup.
Trump signs order to create bitcoin reserve, crypto stockpile
Both stockpiles will be initially funded with assets owned by the Department of Treasury that were seized in criminal or other legal proceedings.
Powell: Fed in wait-and-see mode on White House priorities
Federal Reserve Chair Jerome Powell emphasized the need for patience amid uncertainty over Trump administration’s policies, saying there would be no immediate rate changes but that the Fed would proceed carefully.
Bank economists warn of risks amid tariff bedlam
Forecasters on an American Bankers Association panel predict continued economic growth this year, though they say President Trump’s tariffs have created new inflation and recession risks.
Fed inflation hawk says focus could shift to jobs, growth
Federal Reserve Gov. Michelle Bowman, one of the central bank’s more inflation-wary officials, said the balance of risks for monetary policymaking could soon shift.
Credit union launches digital bank supporting ‘local heroes’
Gesa Credit Union publicly rolled out ValorFI Heroes, which generates charity donations through everyday debit card transactions.
America’s Treasury data doesn’t belong in the hands of DOGE
The Internal Revenue Service holds a massive trove of sensitive data about American taxpayers that would be of inestimable value to a company operating in the private sector. Protecting it is a matter of national security.
Solid hiring signals economic strength, possible Fed pause
Employers added 151,000 employees in February and the unemployment rate ticked up to 4.1%. The reading bolsters the Federal Reserve’s argument to hold rates steady amid economic uncertainty.