President Trump should place Democrats on the FDIC board. No, really.
Banking regulation doesn’t need to mimic the hyper-partisan nature of today’s politics. A balanced FDIC board would confer legitimacy on any efforts by the Trump administration to overhaul financial-services regulation.
Financial data services are surging, but big tech wants in
A just-released McKinsey report predicts strong growth for market data providers, but analysts note that big tech companies are encroaching.
Credit card surcharging is rising: What banks need to know
The fees are controversial for card networks and consumers, but the impact on banks has been muted. Here’s why that could change.
Effective bank regulatory modernization requires a scalpel, not an axe
An overhaul of the bank regulatory system is past due, but the urge to start tearing up the rule book must be resisted in favor of precision and the thoughtful application of some basic principles.
Why tariffs, inflation could thwart community banks’ growth
Small lenders produced net interest margin expansion in the fourth quarter, thanks in large part to interest rate cuts in the second half of 2024. Festering inflation, however, threatens to lead to rate increases that could stall their momentum.
Trump DOJ lawyer Jeffrey Clark joins the CFPB
The Trump administration has installed Jeffrey Clark, a former high-ranking official in the first Trump administration, at the Consumer Financial Protection Bureau. Clark had been indicted as part of the president’s efforts to overturn the 2020 election.
Judge agrees to immediately halt further CFPB firings
U.S. District Judge Amy Berman Jackson agreed to temporarily block the Trump administration from firing more CPFB employees and said the White House could not delete or destroy any of the bureau’s data or databases.
nCino grows through acquisitions as new CEO takes the reins
Sean Desmond, the new CEO of nCino, hinted at some of the products under development in an interview with American Banker.
Master account policy tweak signals Fed shift toward crypto
Federal Reserve Chair Jerome Powell said reserve banks will no longer factor “reputational risk” into master account decisions. The crypto industry is encouraged by the commitment, but says more changes are needed.
Provident hires ex-TD exec as new chief lending officer
Provident Bank announces its new chief lending officer; the SEC’s acting chairman asks a federal court to delay scheduling cases involving a rule on climate-related disclosure; the merger deadline for Capital One Financial’s proposed acquisition of Discover Financial Services is extended; and more in this week’s banking news roundup.