Industry leaders optimistic about AI and crypto czar David Sacks
With a business-friendly crypto and AI overseer, observers expect a softer government approach to tech projects and partnerships.
Harper’s warning on vendors should spur credit unions to act
While it’s true that the National Credit Union Administration needs the authority to regulate third-party vendors, credit unions themselves have considerable power to force vendors to observe best practices.
Goldman Sachs exits climate alliance for banks
Goldman will no longer be a member of the Net-Zero Banking Alliance, a decision largely motivated by a need to comply with mandatory reporting guidelines.
FSOC flags commercial real estate, cyber and stablecoins
The Financial Stability Oversight Council’s annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and regulatory gaps in third-party services and stablecoins, urging stronger oversight and legislative action.
Fed’s Bowman: Regulators ‘have not stepped up’ to stop fraud
Federal Reserve Gov. Michelle Bowman said Friday that regulators — chief among them the Fed itself — need to do more to combat check fraud, particularly the problem of smaller banks not being reimbursed by larger banks whose checks are altered.
CFPB sues Comerica over abuses of federal benefits users
The Consumer Financial Protection Bureau has asked a Texas court to halt Comerica Bank’s practices.
Tariffs spell end to rate cuts
Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.
It’s time for banks to give small-dollar lending a second look
There is a major opportunity out there, especially for community banks, to displace predatory lenders and earn a healthy return at the same time. It’s just a question of making the leap.
Labor growth rebounds, Fed rate cut remains likely
After hurricanes and strikes stalled job growth in October, the economy added 227,000 jobs in November.
What Fiserv’s Bisignano can change if he’s the Social Security boss
The long-time bank and financial services technology executive has a record for cutting costs and supporting rapid automation, skills that could be put to work at the 90-year-old agency.