Bank of America to buy $9B jumbo mortgage portfolio from TD
TD has been adjusting its balance sheet to comply with a cap on its U.S. retail banking assets, imposed last year as part of its money-laundering plea.
Four things banks should watch for with new stablecoin bills
Leading Republican lawmakers released two similar stablecoin bills last week, legislation that the White House wants finished quickly. Here are four issues banks need to watch as the bills move forward.
Musk and Bisignano: A tale of two payment execs
President Donald Trump has recruited Fiserv CEO Frank Bisignano and PayPal co-founder Elon Musk to streamline parts of the government. Their style and experience could not be more different.
Will special bonuses for bank execs stir a hornet’s nest?
Since August, Truist, KeyCorp and Goldman Sachs have granted one-time stock awards to certain executives they want to keep in place. One analyst wants shareholders to reject the bonuses, while consultants say there are valid reasons for banks to make the awards.
CFPB’s Vought stops agency work, vows to cut all funding
Russell Vought, the Consumer Financial Protection Bureau’s new acting director, ordered staff to stop all work and closed the agency’s headquarters for a week.
Judge blocks DOGE access to Treasury payment systems
A group of 19 state attorneys general have sued the Trump administration, alleging the Department of Government Efficiency’s move is illegal. The injunction is pending a hearing Feb. 14.
Trump picks Russ Vought as acting CFPB director, WSJ reports
Newly-confirmed Office of Management and Budget Director Russell Vought, a key architect of Project 2025, has been charged with overseeing an agency Republicans have vowed to eliminate, according to a Wall Street Journal report.
Ex-NCUA chair Rodney Hood tapped to lead OCC
Hood, who chaired the National Credit Union Administration from 2019 until 2021, has been selected by Treasury Secretary Scott Bessent to serve as acting Comptroller of the Currency. Hood replaces acting OCC head Michael Hsu, who has led the agency since 2021.
Lawsuits over security concerns with DOGE are piling up
Courts are litigating the question of whether Elon Musk has the authority to assign DOGE employees to positions that grant them access to sensitive data.
Acting Chairman Travis Hill Expresses Support for Enhancing Flexibility with Respect to Customer Identification Program Requirements
PRESS RELEASE | FEBRUARY 7, 2025 Acting Chairman Travis Hill Expresses Support for Enhancing Flexibility with Respect to Customer Identification Program Requirements WASHINGTON – Today, Acting Chairman Travis Hill sent a letter to the Financial Crimes Enforcement Network (FinCEN) expressing support for allowing more flexibility with respect to certain Customer Identification Program (CIP) requirements for […]