Appeals court rejects Trump’s bid to remove Cook from Fed
A panel of DC Circuit Court judges ruled late Monday that the president had not met the stringent statutory requirements to block a lower court injunction, which allowed Federal Reserve Gov. Lisa Cook to remain at her post as her lawsuit challenging her dismissal is litigated.
Stephen Miran confirmed to Fed board
The Senate voted 48 to 47 to confirm Stephen Miran to the Federal Reserve Board, just ahead of the central bank’s rate setting committee meeting.
National Bank Holdings inks deal for Dallas-based bank
The pending $369 million deal would bolster National Bank Holdings’ footprint in Texas, where it currently operates as Hillcrest Bank.
U.S. Bancorp further expands its small business toolkit
The Minneapolis-based bank has rolled out payroll and bill pay features four months after unveiling a service to monitor card spending. An accounts receivable solution is on deck.
Aspiration, the tree-planting neobank felled by investor fraud
An alleged scandal involving the LA Clippers is just the latest reputation hit to the beleaguered fintech.
Should banks charge data aggregators fees? The debate continues.
When JPMorganChase said it planned to charge aggregators for its customer data, it sparked strong feelings on all sides.
Mastercard accelerates AI shopping ahead of the holidays
The card brand has added several tools that expand “agentic commerce,” which adds artificial intelligence-based automation to shopping, service and checkout, innovation that’s becoming popular with payment companies.
Director Pulte should be focused on the real mission of the FHFA
The Federal Housing Finance Agency director should spend less time on partisan attacks and social media posting, and more on trying to resolve the housing crisis.
Trump makes new push for court approval to fire Fed’s Cook
The Department of Justice argued that Federal Reserve Gov. Lisa Cook has not provided an explanation for her alleged primary residential claims on separate mortgage applications, but the motion made no mention of newly uncovered documentation that suggests Cook represented one of those mortgages as a vacation home in her application, undermining claims of fraud.
National bank preemption is settled law, and good policy
The perennial effort by state-level lawmakers and regulators to impose their will on national banks risks damaging a well-balanced system that has allowed the U.S. economy to thrive.