While banks trash card restrictions, merchant lobbyists are cheering
Merchant groups are not taking a position on President Donald Trump’s threats to cap interest rates, but they are bullish on the president’s endorsement of the Credit Card Competition Act.
Fed’s Bowman ‘continues to see downside risk’ to labor market
Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.
If policymakers really support small banks, they have one obvious task
Data collected by the Conference of State Bank Supervisors demonstrates a huge disparity in compliance costs between large and small banks. Policymakers in Washington who claim to support community banks must act to reduce regulatory burden.
Upstate NY lender to buy bank with funeral-planning focus
Community Financial in Syracuse has agreed to purchase a small bank that’s built its business model around end-of-life planning.
Bilt, Affirm aim to capitalize on proposed credit card rate cap
Bilt’s new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.
Dip in mortgage rates gives First Horizon a boost
First Horizon’s loans to mortgage companies in the fourth quarter rose at the fastest clip in more than two years, as the housing market showed small signs of revival.
Portage takes over fintech investments from Point72 Ventures
The fintech investment firm Portage is now managing a $280 million portfolio acquired from the venture arm of Mets owner Steven Cohen’s firm Point72.
Sunshine Act Notice: FDIC Board of Directors Meeting
SUNSHINE ACT MEETING NOTICE The FDIC Board of Directors will meet in an open session: Date and Time: Thursday, January 22, 2026, at 10:00 a.m. ET Place: The Board meeting will be open to public observation by webcast. Members of the media should contact the Office of Communications by Tuesday, January 20, at MediaRequests@FDIC.gov to attend […]
California penalizes Nexo $500,000 for risky crypto loans
The crypto lender issued over 5,000 loans to residents without a license and failed to assess repayment ability, the DFPI said.
Former Fed officials: Markets still trust Fed independence
A handful of former Fed officials noted that the markets’ measured response to a probe into Fed Chair Jerome Powell was a result of pushback from Trump allies.