CFPB drops case against Reliant Holdings
The bureau dropped the case against the subprime card lender with prejudice, following a number of similar actions taken under the Trump administration.
Anti-fraud firm Feedzai buys Demyst, enhancing crime detection tools
The acquisition brings Demyst’s data orchestration tools to Feedzai’s platform, a move aimed at reducing financial crime and improving compliance in banking.
Weed woes deliver earnings hit to NJ community bank
BCB Bancorp in Bayonne, New Jersey, swung to an $8.3 million loss in the first quarter due to a troubled cannabis loan. The crowded weed marketplace in the New York area is leading to tighter margins.
Bank stocks rally as Trump softens stances on Powell, China
The president said he had “no intention” of firing the Federal Reserve chair and promised that tariffs against Chinese imports would be lowered “substantially.”
Sen. Dick Durbin to retire, capping financial reform legacy
Sen. Dick Durbin, the Senate’s No. 2 Democrat, announced he will not seek reelection in 2026, concluding more than four decades in Congress. The Illinois lawmaker leaves behind a notable imprint on U.S. financial policy, particularly regarding swipe fees.
Fed’s Kugler: Rate hikes less effective on private credit
Federal Reserve Gov. Adriana Kugler said tighter monetary policy has proved to be less impactful on nonbank lenders during the post-pandemic era.
Bessent: US seeks reforms while backing IMF and World Bank
Treasury Secretary Scott Bessent called for a course correction for the International Monetary Fund and World Bank, while saying that they serve “critical roles,” and that the Trump administration is willing to work with them.
Banks should defend the CFPB out of self-interest
A robust consumer protection regime ensures that consumers will rely on the stability and reliability of traditional banks by pushing capital away from volatile and speculative markets.
US banks ride out market turmoil using capital buildup they opposed
This time almost no one is questioning the industry’s ability to ride out whatever is coming.
DOGE staffer, CFPB top lawyer ordered to appear in court
A federal judge has ordered a staff member of the Department of Government Efficiency and the Consumer Financial Protection Bureau’s top lawyer to appear at an evidentiary hearing next week.