Powell: CFPB shutdown creates consumer oversight gaps
In his semiannual testimony before the Senate Banking Committee Tuesday, Federal Reserve Chair Jerome Powell said the effective shuttering of the Consumer Financial Protection Bureau leaves no federal regulator in charge of policing large banks for consumer protection law compliance.
How JPMorgan for BNPL gives Klarna a pre-IPO jolt
As it closes in on a New York listing, the Swedish fintech partners with the largest merchant acquirer in the U.S. by payment volume.
CFPB shutdown raises questions for consumer oversight
A stop-work order from the Consumer Financial Protection Bureau’s newly appointed acting director Russell Vought has created uncertainty about the future of consumer-oriented enforcement activity.
Democratic senators probe FDIC job-offer rescissions
Lawmakers, citing past failures, say FDIC staffing shortages weaken oversight.
U.S. government, companies reject DeepSeek; should banks?
The Navy has told members not to use the virtual agent from China, and Congress is trying to forbid it among all government workers amid concerns about security.
President Trump confirms his goal is to eliminate the CFPB
Speaking to reporters from the Oval Office on Monday afternoon, President Trump was asked if he wanted to eliminate the bureau. “I would say, yeah,” he replied. “Because we’re trying to get rid of waste, fraud and abuse.”
Reforming Fannie and Freddie is overdue, but must be done carefully
The government-sponsored enterprises were not meant to remain in conservatorship permanently, but privatizing them once again must include a new set of rules that minimize market disruptions and maximize their focus on making homeownership affordable.
Could Trump build lasting bridges between crypto and banks?
Following President Donald Trump’s executive order to protect banking services for crypto firms, lawmakers ask if banks or regulators are to blame.
Bankers want agency independence, but split on consolidation
A survey of senior bank officers at community banks by fintech firm IntraFi found bankers nearly evenly divided on the idea of merging federal bank regulators, while an overwhelming 93% support maintaining agency independence.
Warren, Democrats promise to fight for CFPB at rally
A rally outside the Consumer Financial Protection Bureau headquarters in Washington Monday afternoon boasted 17 lawmakers and roughly 600 attendees, organizers said, who were decrying Trump administration efforts to effectively shutter the bureau.