SALT talks gain steam with Trump’s blessing on tax break
House Republicans are in talks over raising the cap for state and local tax deductions after winning pledges to include it in a must-pass tax bill this year.
In 2025, AI dreams will collide with the reality of implementation
The era of unchecked AI enthusiasm is giving way to a more measured and deliberate approach. Organizations are beginning to see AI not as a panacea but as a powerful, albeit complex, tool that requires thoughtful implementation.
Trump’s bank policy remains undefined amid flurry of orders
The president has signed dozens of executive orders touching a wide range of government functions, but banking policy has largely gone untouched — so far.
Judge allows New York case against Citi over wire fraud to proceed
The ruling lets state attorney general Letitia James continue arguing Citi should have reimbursed customers for wire fraud, though some claims were dismissed.
Amazon accelerates Indian payments, Stripe plans layoffs
The e-commerce giant has added payment and credit products, though it faces heavy competition from banks and other tech firms. Also, Stripe’s layoffs and other news from the world of payments.
Deposit surge keeps Michigan bank on solidly profitable footing
Mercantile Bank Corp. in Grand Rapids achieved a 20% increase in deposits in 2024, an amount that was ample enough to fund robust loan growth and scale back reliance on costlier wholesale funding.
New York to ban overdraft fees on charges of $20 or less
The New York Department of Financial Services has proposed several changes to overdraft fees including banning banks from charging more than three overdraft or nonsufficient funds fees per consumer per day.
SEC starts crypto task force led by ‘Crypto Mom’ Peirce
Hester Peirce and SEC Acting Chair Mark Uyeda say they want to group to devise a clear compliance framework for digital assets and end regulation by enforcement.
Trump admin may wash hands of some of SEC’s last-minute enforcement flurry
The avalanche of cases announced Friday included charges against a no-longer registered advisor and firm accused of misappropriating more than $20 million from clients.
Comerica expects muted loan growth in 2025, posts Q4 profit
The Dallas-based company expects average loan growth to be flat to up 1% from 2024, driven by the ongoing payoffs of commercial real estate loans, executives said.