Fed independence hangs on meaning of ‘for cause’
Federal Reserve Gov. Lisa Cook’s lawsuit against President Trump is challenging his move to remove her from office because allegations against her do not constitute “cause.” How courts weigh in could dictate the future of the central bank’s independence from the White House.
Wells Fargo: Supply chains adjust as tariffs hike costs
As the holiday shopping season approaches, retailers are grappling with how to optimize their inventory and set prices amid higher tariffs. A new Wells Fargo report sheds light on how businesses are adapting.
Pinnacle, Synovus seek to sell pending merger to investors
On Thursday, the two banks disclosed a presentation that seeks to reinforce the strategic rationale behind the proposed $8.6 billion deal.
Credit building fintech launches EWA product
Self Financial sees earned wage access as the perfect compliment to its suite of credit building products. It’s the latest example of EWA being paired with broader financial wellness products.
TD Bank has shrunk U.S. assets by $48B since asset cap
The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.
Criticism of federally backed credit union lending is misguided
Community development financial institutions have a long history of providing vital economic lifelines to communities across the country. Credit unions have always been an important part of that story.
Mortgage rates hit 10-month low as Powell hints at Fed cut
The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.
SBA orders ‘its network of lenders to halt ‘debanking’
The agency says the move, which it made pursuant to a Trump directive, reverses Obama-era policies and requires banks to restore access to customers allegedly cut off for political or ideological reasons.
TransUnion data breach affects 4.4 million
The incident appears connected to recent social engineering campaigns, including attacks tied to Salesforce.
Data security is slowing bank and credit union automation
Worries that information can be kept safe is the top issue that’s holding back artificial intelligence-driven tech upgrades at regional banks and credit unions.