Tariffs pose ‘COVID-type’ harm for small-business payments
The sector includes construction companies and others that rely on materials from outside the U.S., which could challenge lending based on future payment flows.
CRA rollback leaves banks with certain, if imperfect, status quo
Federal regulators’ plan to rescind reforms to the anti-redlining Community Reinvestment Act implementation rules disappoints community advocates, but gives banks clarity by reverting to longstanding CRA rules.
Four of Jamie Dimon’s biggest concerns, per his letter
JPMorgan Chase’s CEO emphasized his concerns about geopolitical conflict and brought up recent culture shifts at the bank in his annual letter to shareholders.
Bloomberg launches AI-based document search for Wall Street
Market data providers like Bloomberg and FactSet use generative AI to boost productivity for their users.
Lisa McGeough on Becoming HSBC’s New U.S. CEO: “It Wasn’t an Accident.”
McGeogh started in fixed income sales at Salomon Brothers, and has led groups in leveraged finance, international securities and global banking. Now, she will lead the expansion of all businesses in the region.
The case for consolidating the Home Loan banks is strong
Shrinking the Federal Home Loan Bank System from 11 banks to eight would save members money, improve efficiency and generate more money for affordable housing.
Jamie Dimon: Tariff policy issues must be resolved quickly
“The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse,” the JPMorgan Chase & Co. CEO wrote in his annual letter to shareholders.
BOE’s Bailey nominated to lead Financial Stability Board
The Bank of England governor won unanimous backing to succeed Klaas Knot as chair. The appointment will be formalized in June.
CFPB is back to doing enforcement again … sort of
The Consumer Financial Protection Bureau has chosen to prosecute only a handful of cases as the Trump administration drops other investigations, claiming enforcement is not mandated by the Dodd-Frank Act.
Provident Bank creates new role to drive customer experience
Provident Bank’s Tara Brady was promoted to chief experience officer; the Federal Reserve ended its enforcement action against Nano Banc; Jim Nussle announced plans to retire as CEO of America’s Credit Unions; and more in this week’s. banking news roundup.