Fed’s Jefferson: Uncertainty around economy ‘especially high’
Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed’s 2% inflation target in the coming years.
CFPB’s union appeals agency’s ‘dismantling’ to D.C. Circuit
The Consumer Financial Protection Bureau’s union is appealing an appellate panel’s ruling that allows acting CFPB Director Russell Vought to fire 90% of the bureau’s staff.
A healthy sales culture provides the oxygen growing banks need
Banks that embrace, promote, and support a principled sales culture discover that it not only fuels growth but also strengthens their brand and deepens customer trust.
Citi mandates AI prompt training for most employees
A memo sent to 175,000 employees gives them 60 days to complete the training.
Experts say Supreme Court could combine independence cases
Legal experts say the outcome of Slaughter v. Trump, which considers Trump’s termination of a Federal Trade Commission member, could have profound implications for Federal Reserve Governor Lisa Cook’s litigation, which in turn could determine the future autonomy of the central bank.
Capital One seeks to kill two costly lawsuits with one stone
The credit card giant is facing both a class-action case and a related state-AG lawsuit over the low rates it paid to savers. Can the settlement of one suit ease the pain of the other?
TD touts ‘unparalleled opportunity’ after major AML scandal
The Toronto-based bank announced enterprise-wide and business-specific revenue and expense targets, almost exactly one year after it was hit with more than $3 billion in fines and an asset cap for money-laundering-related blunders.
Charlie Javice gets seven years for defrauding JPMorgan
Prosecutors had asked the judge for a stiff sentence, saying that Javice committed a “brazen fraud” when she convinced JPMorgan to pay far more for her company than it was worth.
New York’s top financial regulator steps down
Adrienne Harris, head of the New York Department of Financial Services, will step down after four years in the job. She will be replaced by Kaitlin Asrow as Acting Superintendent beginning on October 18.
FS-ISAC: Quantum threat demands immediate, coordinated action
A major financial services industry group focused on cybersecurity highlighted the need for planning ahead of 2030 and 2035 deadlines.