Questions abound for Trump’s sovereign wealth fund plan
Trump’s executive order to create a U.S. sovereign wealth fund raises important questions — as yet unanswered — around funding, governance, political interference and the purpose that such a fund would serve.
Lawsuit alleges Musk, Bessent violating US privacy rights
Current and retired federal employees say Treasury officials granted Elon Musk improper access to federal financial records, violating privacy laws.
FDIC Releases Documents Related to Supervision of Crypto-Related Activities
PRESS RELEASE | FEBRUARY 5, 2025 FDIC Releases Documents Related to Supervision of Crypto-Related Activities WASHINGTON – Today, the Federal Deposit Insurance Corporation (FDIC) released 175 documents related to its supervision of banks that engaged in, or sought to engage in, crypto-related activities. Acting Chairman Travis Hill issued the following statement in connection with the […]
It’s time for an honest conversation about ‘debanking’
The reality of banking is that some customers are riskier and more labor-intensive than some banks want to tolerate. If Congress doesn’t like where banks draw the line, it needs to understand what moving it will entail.
Musk’s team can access Treasury systems. What could go wrong?
Potential cybersecurity and data privacy violations are among the many dangers of giving the Tesla CEO free rein over systems and data used for Social Security benefits and tax refunds.
How to apply for the Best Credit Unions to Work For 2025
Our annual list of the best credit unions to work for.
What to expect in the Capitol Hill debate over debanking
Committees in both the House and Senate will hold hearings this week about debanking — a term that means different things to different people.
GOP lawmakers, Trump admin promise ‘golden age’ of crypto
Sen. Tim Scott, R-S.C., the chairman of the Senate Banking Committee, said they would try to pass crypto and stablecoin bills in the first 100 days of the Trump administration.
Treasury brings in 2 members from Musk’s DOGE team
Tom Krause, the chief executive of Cloud Software Group, and Marko Elez, an engineer who has worked for SpaceX and social-media platform X, have offices in the Treasury Department, according to sources.
California financial watchdogs hit Patelco with $100,000 fine
The credit union suffered a ransomware attack in June 2024 that affected nearly all of its banking systems.