Dozens of state AGs urge House to reject overdraft repeal
A group of 24 state attorneys general Wednesday called on House members to reject a Senate-passed Congressional Review Act resolution repealing the Consumer Financial Protection bureau’s overdraft cap.
Bessent defends tariffs, calls for deregulation
In a speech at the American Bankers Association Washington Summit Wednesday morning, Treasury Secretary Scott Bessent downplayed economic risks from tariffs, floated capital reforms, and urged regulatory relief for community banks.
Big banks’ record trading streak overshadowed by tariffs
JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs Group and Morgan Stanley are projected to post a combined $34.8 billion haul from their trading businesses in the first quarter, the most for that period in at least seven years.
Treasury’s AML rollback could increase fraud risks for banks
The decision to stop enforcing the Corporate Transparency Act, which requires the disclosure of the beneficial ownership of businesses, could make the U.S. an attractive environment for fraudsters.
Affiiate partnerships become marketing mainstay for banks
A technique first used to sell flowers and gifts has evolved into one of the financial service industry’s most effective digital tools for acquiring customers and selling products and services.
Justice Department shuts down its cryptocurrency team
Deputy Attorney General Todd Blanche said regulators, not the DOJ, should pursue most crypto cases.
Senate eyes May for CFPB nomination vote, Scott says
Senate Banking Committee Chairman Tim Scott said Jonathan McKernan’s final confirmation vote to lead the Consumer Financial Protection Bureau is “imminent.”
Pulte ousts 100+ at Fannie Mae over ethics breach
Bill Pulte, making the announcement as chairman of Fannie Mae, did not provide additional details following earlier rumors of larger layoffs.
OCC falls victim to major cybersecurity breach
The Office of the Comptroller of the Currency disclosed a significant email system security breach that revealed sensitive data about federally regulated banks. The breach follows a similar incident at the Treasury Department earlier this year.
Former M&T executive Darren King moves to Fifth Third
King, who spent 24 years at M&T Bank and departed with little explanation, will lead Fifth Third’s operations in middle market commercial banking and wealth management.