Key questions for Fed still unanswered after Cook decision
Lisa Cook can keep her seat on the Federal Reserve Board thanks to the Supreme Court’s procedural concerns. Deeper questions about the central bank might not come for years — if at all.
CashCall asks judge to overturn $134 million judgment
The high-cost lender wants a federal court to vacate a nine-figure judgment, claiming the Consumer Financial Protection Bureau acted in “bad faith” by abandoning a settlement agreement that would have sharply reduced the company’s payment.
Exclusive: Warren says NCUA deregulation weakens credit unions
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., said the National Credit Union Administration’s efforts to roll back 31 rules without a board quorum could jeopardize the credit union system’s stability and legitimacy.
Trade groups: USDA misfired by barring lenders from program
Groups representing community banks and credit unions argue that the Department of Agriculture used a faulty process when it removed 10 lenders from its OneRD loan guarantee program
Commerce to acquire boutique middle-market investment bank
The Kansas City bank plans to purchase St. Louis-based Nolan & Associates, adding to its investment banking advisory capabilities.
Wise cashes in on cross-border payments’ big moment
Wise grew its net revenue 19% year over year to $2.5 billion in its fiscal 2026, aided by increased deposits, cross-border volume and spending on the Wise card. It’s the latest sign that interest in cross-border payments and multicurrency accounts is heating up.
Elon Musk’s ‘bank’ is live. What it needs to threaten fintechs
X Money includes rudimentary functions like deposits and P2P transfers. But it’s also laying groundwork for a potential move into agentic commerce and broader financial services — which analysts say is necessary for the app to thrive in a crowded market.
Goldman leads $110M bet on Taktile’s AI software
Taktile’s backers now include Goldman, Tiger Global and Index Ventures, lifting its total raised to $184 million since 2020.
AI boom could cause the next economic crash, BIS warns
The Bank of International Settlements compared the recent AI investment frenzy to the canal mania of the 1830s, the British railway craze of the 1840s and the dot-com boom of the late 90s.
Supreme Court allows Cook to remain at Federal Reserve
The Supreme Court found that President Donald Trump did not provide Lisa Cook requisite due process when he sought to remove her from the Fed last year, and for that reason denied the White House’s motion to remove her immediately.