DOGE descends on FDIC in federal downsizing push
A Department of Government Efficiency team is working with FDIC leadership to “increase efficiency,” which could include cuts to contracts and streamlining staff. FDIC says DOGE staffers have “appropriate clearances.”
MoneyLion stockholders approve acquisition by Gen Digital
Gen Digital announced in December it planned to acquire MoneyLion for $82 a share, approximately $1 billion in cash value.
New York fines Block for Cash App anti-money-laundering lapses
Regulators said the payment company did not provide sufficient customer identification and monitoring, increasing risk for its transfer app. This week’s fine follows earlier penalties in other states and the federal government.
Tariff whiplash has banks and their clients pausing deals
After rapid changes in U.S. trade policy, banks and their clients are putting merger deals on ice until the dust settles.
Fed’s Goolsbee watching credit conditions amid uncertainty
Federal Reserve Bank of Chicago President Austan Goolsbee said to understand how banks are faring in the current environment of tariff-induced uncertainty, he’ll be watching the relationship between credit spreads and equity markets.
Solid Financial files for bankruptcy after pig butchering scandal
Victims of a pig butchering scheme recently sued Qbit, a Solid customer that allegedly laundered millions of dollars through Solid accounts.
Executive compensation of FHLBank execs comes under scrutiny
A recent letter addressed to the FHFA fueled a consumer advocacy group to look at salaries, which have been criticized as not aligned to the system’s purpose.
Yotta customer leads class-action suit against Evolve, Lineage
The latest lawsuit stemming from Synapse’s bankruptcy accuses the banks of risk management failures.
Bowman hedges on Fed independence questions
Federal Reserve Gov. Michelle Bowman, who has been nominated to be the central bank’s top regulator, sidestepped direct questions about the Trump administration’s incursion into the Fed’s regulatory independence.
How Chainlink Labs CEO Sergey Nazarov sees tariffs affecting DeFi
In an era of deglobalization, decentralized financial products like blockchains are looking more appealing to some.