SEC starts crypto task force led by ‘Crypto Mom’ Peirce
Hester Peirce and SEC Acting Chair Mark Uyeda say they want to group to devise a clear compliance framework for digital assets and end regulation by enforcement.
Trump admin may wash hands of some of SEC’s last-minute enforcement flurry
The avalanche of cases announced Friday included charges against a no-longer registered advisor and firm accused of misappropriating more than $20 million from clients.
Comerica expects muted loan growth in 2025, posts Q4 profit
The Dallas-based company expects average loan growth to be flat to up 1% from 2024, driven by the ongoing payoffs of commercial real estate loans, executives said.
Deal in California first CU-bank merger of 2025
Frontwave Credit Union said it would acquire Community Valley Bank in a deal that would expand its footprint in San Diego and nearby counties. It comes on the heels of a record year for CU-bank combinations.
Trump’s sharp turn for US policy faces a slower road in Congress
Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.
Error fees are draining lenders $1M per 1,000 loans
Fees falling outside of tolerances cost the industry more than $1 million per 1,000 loans, according to an ICE Mortgage Technology study from earlier this year.
A strategic bitcoin reserve raises real national security concerns
China currently dominates the market for the hardware and software used to mine cryptocurrency. Creating a large federal reserve would expose a major U.S. asset to potential Chinese meddling.
Ally drops credit card business, posts quarterly profit
The bank, which posted a 74% rise in fourth-quarter earnings, is focusing on its auto loans.
Inside Citi’s quest to battle BNPL fintechs
The bank is among traditional financial institutions attempting to counter the gains rivals have made in buy now/pay later.
Capital One, seeing a healthy consumer, leans into credit cards
CEO Richard Fairbank told analysts executives have their “microscopes” out for any signs of trouble, but consumers remain “in a great place.”