Trump adviser: Banks will play ‘tremendous’ role in crypto
Bo Hines, a top White House adviser on crypto policy, said banks can see “the writing on the wall” and will want to engage in the digital asset industry.
Banking groups seek total block of Ill. interchange law
Trade groups are asking for summary judgment to permanently block an Illinois law banning interchange fees on taxes and tips, citing federal banking conflicts.
New FHFA chief revamps Fannie Mae, Freddie Mac’s boards
Federal Housing Finance Agency Director Bill Pulte is the new chair for both and he has removed several members while adding a few new names at each.
MetroCity in Georgia to buy in-state peer First IC Bank
The suburban Atlanta banks, both of which specialize in lending to Korean-American businesses, plan to merge in a $206 million cash-and-stock deal.
Swipe fee reform will barely dent American banks’ record profits
Small businesses and consumers deserve the relief that legislation like the Credit Card Competition Act would bring from the fees that burden every card-based transaction. Banks can easily afford it.
Forecasting the Future of the Payments Industry, 2025
American Banker surveyed 100 banks, credit unions and payment firms on how gen AI, President Donald Trump’s policies and consumer habits are changing their investments.
Bessent sees no reason for recession, economic data ‘healthy’
The Treasury secretary pointed to figures from credit cards and banks as “very good underlying data.”
‘Hitting bone’: CDFI industry fears deep cuts under Trump
President Donald Trump’s executive order severely limiting the Treasury’s Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.
Wells Fargo clears another consent order, now down to three
The San Francisco bank announced Monday that it has shed its fifth regulatory order this year — this one related to loss mitigation practices in its home lending business.
SmartBiz is first fintech to become bank under Trump
It’s been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.