Fed’s Bowman warns against policies that lead to debanking
In a Friday speech, Federal Reserve Board member Michelle Bowman said regulation and supervision should be aimed at expanding banking access, not limiting it.
Joint Press Release: Agencies Announce Second Public Outreach Meeting as Part of Their Review of Regulations
JOINT PRESS RELEASE | JANUARY 31, 2025 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency Agencies Announce Second Public Outreach Meeting as Part of Their Review of Regulations Federal bank regulatory agencies will hold a virtual public outreach meeting on March 6, 2025, as part of their review of regulations, as […]
Press Release: FDIC Makes Public December 2024 Enforcement Actions; No Administrative Hearings Scheduled for February
PRESS RELEASE | JANUARY 31, 2025 FDIC Makes Public December Enforcement Actions; No Administrative Hearings Scheduled for February 2025 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December 2024. There are no administrative hearings scheduled for February 2025. The FDIC […]
Bankers, when it comes to AI, don’t buy into the productivity illusion
AI isn’t inherently good or bad; its value depends entirely on how it’s used. For financial institutions, this means shifting the focus from internal productivity gains to customer outcomes.
Cannabis advocates see banking opportunities under Trump
The cannabis industry and its financial partners see potential gains under Trump, either in the form of direct changes in policy, economic incentives or the nascent effort to curb debanking.
Who will Trump pick to run his banking agenda at the Fed?
Federal Reserve Gov. Michelle Bowman is widely seen as the president’s most likely choice for vice chair for supervision, a position soon to be vacated by Michael Barr. But while Bowman is the administration’s most straightforward option, it’s not the only one being considered.
CFPB orders Wise to pay $2.5M for illegal remittance practices
Money remittance provider Wise said it “strongly disagrees” with the Consumer Financial Protection Bureau’s characterization that it advertised inaccurate fees and did not properly disclose exchange rates.
Visa’s holiday spending, partnerships fuel earnings beat
The card brand also touted its payments partnership with the social media platform X as evidence of strength in its partnership strategy.
Banks increasing tech spend overall in 2025: Research
More than 80% of bankers surveyed said they increased their tech budgets to invest more in security, data analytics and AI.
First Foundation gets Wall Street dress-down amid strategy remix
The Dallas bank made some headway on its goal to slim down its multifamily loan portfolio, but $17 million in bad loans led to a bottom-line loss in the fourth quarter.