Trump takes Bessent off Fed short list, says four remain
The president said he would soon announce a replacement for departing Fed Gov. Adriana Kugler, adding that it’s a “possibility” that his selection for that seat on the Federal Reserve Board will be tapped as the next Fed Chair.
Trump says JPMorgan, Bank of America refused his business
President Donald Trump accused two of the nations’ largest banks of rejecting his business, following a report his administration was preparing an executive order threatening financial institutions who refused to do business on ideological grounds.
What mortgage firms should do now to gear up for GSE crypto
Lenders and servicers must determine how quickly to act as some legislators look to enable the move a key regulator has ordered while others urge deliberation.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | AUGUST 5, 2025 FDIC Issues List of Banks Examinedfor CRA Compliance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2025. The […]
The regulatory theater around ‘terms and conditions’ harms everyone
The current system of communicating the terms and conditions of banking services fails everyone. Banks spend enormous resources on compliance theater while customers remain uninformed about their actual rights and risks.
Wells Fargo plans to unleash Google’s agentic AI bank-wide
The bank is giving all employees Google’s Deep Search and NotebookLM, and it will start creating agentic AI virtual assistants using Agentspace.
Trump’s BLS firing impacts perceptions more than numbers
The removal of the commissioner of the Bureau of Labor Statistics is unlikely to change government data practices in the near term, experts say, but the perception of interference will have a big effect on the credibility of government economic metrics going forward.
Fintech investment holds steady amid trade war
Equity investment in the sector reached $10 billion for two quarters in a row as the sector weathered tariff uncertainty and saw an increase in exit deals.
Trump’s immigration policy is pressuring remittances: Western Union
Western Union’s North American money transfer business logged a decline in cross-border remittance revenue, led by drops in the U.S. to Mexico corridor, its largest remittance stream by far. The company is also bracing for the 1% remittance tax codified in the “Big Beautiful Bill,” a levy that does not directly apply to banks.
Inside a sophisticated, foiled cyber-heist targeting ATMs
A threat group used physical implants and evasive malware to infiltrate ATM networks and attempt fraudulent withdrawals. Here are their tactics and techniques.