Tariffs, uncertainty may squeeze Wall Street bonus pay
Incentive pay for investment bankers at major firms is expected to fall this year by 13% from 2021 levels, according to a consulting firm’s report. But stock traders may reap the rewards of market volatility.
State regulators urge OCC to rescind preemption rules
The Conference of State Bank Supervisors says the OCC’s 2011 preemption rules are out of step with Supreme Court rulings and unfairly disadvantage the state banking system.
SEC, Ripple settlement agreement drops fine to $50 million
The 2020 case, in which the Securities and Exchange Commission tried to hold Ripple accountable to securities law, offers little clarity for the regulation of crypto tokens.
Blaming consumers for ‘mortgage fraud’ won’t solve our housing crisis
When supposed “fraud” becomes the headline, real solutions get pushed to the margins. In the case of housing, the real crisis is about housing affordability and supply.
A trendy financial tool for banks gets a new purpose
Credit risk transfers, which gained traction in 2022 and 2023 as banks sought to manage their capital levels, may now become a solution for lenders looking to reduce their exposure to commercial real estate loans.
Are banks getting what they pay for as the top AI spenders?
Research from American Banker finds banks are top AI users and plan to stay at the top for the future. But can rising costs hurt chances for positive results?
Fed’s Barr expects high inflation, slow growth from tariffs
Federal Reserve Gov. Michael Barr said global supply chain disruptions and inflation caused by tariffs could weigh heaviest on small businesses, especially those with little access to credit.
Affirm’s Max Levchin teases generative AI plans
The fintech’s CEO told analysts during Thursday’s earnings call that generative AI was taking search by storm and that investors “should absolutely expect us to have an answer for that.”
More consumers expect to fall behind on debts, survey shows
Average Americans are souring on their own financial health, according to a New York Fed survey. That includes their ability to pay off their debts.
Senate passes CRA resolution on OCC merger rule
The Congressional Review Act resolution to overturn the Office of the Comptroller of the Currency’s rules on bank mergers passed 52-47.