Trump should act quickly on financial regulation and housing
The incoming administration will have a number of tools at its disposal to immediately pare back stifling federal regulation of financial services and boost the housing market. It should use them.
TD speeds up CEO handoff, cuts pay for more than 40 executives
Toronto-Dominion Bank is moving up the start date for its new chief executive officer, Raymond Chun, by two months and has reduced executives’ pay.
Truist says expenses could rise slightly in 2025
The company, which has been trying to rein in costs for years, said adjusted noninterest expenses rose 8.4% from a year ago to $3 billion for the fourth quarter.
CFPB withdraws NSF proposal and earned wage access opinion
The Consumer Financial Protection Bureau rescinded a proposed rule on nonsufficient funds fees and a 2020 advisory opinion on earned wage access products.
Biden’s cybersecurity order could help banks deter fraud
The order calls on federal agencies to support more forms of digital identity documents and could lead more states to adopt digital driver’s licenses.
Scott Bessent sails through Treasury confirmation hearing
Scott Bessent, Donald Trump’s pick to serve as Treasury Secretary, handled a policy-heavy confirmation hearing with poise, highlighting his preference for relaxed bank regulation, support of the 2017 Trump tax cuts and a hawkish approach to spending.
CFPB orders Cash App to pay $175 million for fraud failures
Cash App’s parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.
Morgan Stanley attracts assets even with AML scrutiny
The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that’s not driving away potential clients, executives say.
What U.S. Bank’s innovation execs saw at CES 2025
Chief Innovation Officer Don Relyea and Head of Applied Foresights Todder Moning described what interested them at this year’s Consumer Electronics Show, and which technologies are getting close enough to become bank-ready.
Trump nominates Bill Pulte to head FHFA
The nominee to lead Federal Housing Finance is head of Pulte Capital Partners, which invests in homebuilding related businesses.