The downfall of Gemini Trust’s crypto lending program
As part of a deal with New York Attorney General Letitia James, the cryptocurrency exchange agreed to return more than $50 million in digital assets to investors involved in the now-defunct Gemini Earn program.
The CFPB is constitutional, and its opponents need to move on
The Consumer Financial Protection Bureau has been opposed by the financial services industry to a greater or lesser degree since its inception, and its constitutional legitimacy has now been deeply litigated. The bureau could still be dismantled — just not by the courts.
First Interstate Bank’s acquisitive CEO to step down
During nine years Kevin Riley led the Billings, Montana-based institution, it quadrupled its size, largely through deals. New leadership could mean that the company focuses less on M&A and more on integration.
Warren pushes Powell to tee up Basel vote
Sen. Elizabeth Warren, D-Mass., an influential progressive member of the Senate Banking Committee, decried reported meetings between Federal Reserve Chairman Jerome Powell and large bank CEOs who want the Basel III endgame proposal weakened.
We need to rely on facts when we measure banks’ climate risk
The best way for banks to alleviate the effects of extreme weather events is to continue to do what they do best — lend.
Regional banks are locked in a battle of perception over CRE
Some banks with large commercial real estate concentrations are seeing their stock values take a roller-coaster ride as investors discount their assurances about the wobbly asset class.
Sen. Brown: OCC ‘must do more’ on bank merger review
Senate Banking Committee chair Sen. Sherrod Brown, D-Ohio, is the latest progressive to express some skepticism on the Office of the Comptroller of the Currency’s merger review, especially when compared to the relatively stricter Federal Deposit Insurance Corp. version.
AI hiring slowed for banks in first quarter, but it’s picking up again
A lull stemmed from overall cost cuts and a period of regrouping from which banks are emerging, experts say.
CFPB asks appeals court to reject payday efforts to keep litigating
Payday lenders want an appeals court to rehear a novel claim about the Consumer Financial Protection Bureau’s funding despite a Supreme Court ruling last month that upheld the agency’s funding as constitutional.
Republicans hold their fire on FDIC chair nominee
Christy Goldsmith Romero — the White House’s pick to succeed Martin Gruenberg as chair of the Federal Deposit Insurance Corp. — has generated little pushback from Senate Republicans, though her lack of bank supervisory experience and her record on cryptocurrency are the most likely lines of attack during her confirmation process.