The 20th-century railroad revolution that 21st-century banking needs
Despite dire warnings of catastrophe, the deregulation of surface transportation in the 1970s delivered huge benefits to consumers. The banking industry is ripe for a similar regulatory restructuring.
Fed’s Kashkari not seeing dislocation that merits intervention
The Minneapolis Fed chief repeated his view that the potential inflationary impact of tariffs make the Fed less likely to lower interest rates, even in the face of a weakening economy.
How Trump’s changing tariffs are upending cross-border payments
The administration’s unpredictable policy has already caused shifts in foreign exchange rates and supply chain payments. Uncertainty about future levies will cause added pressure despite the 90-day pause.
DOGE descends on FDIC in federal downsizing push
A Department of Government Efficiency team is working with FDIC leadership to “increase efficiency,” which could include cuts to contracts and streamlining staff. FDIC says DOGE staffers have “appropriate clearances.”
MoneyLion stockholders approve acquisition by Gen Digital
Gen Digital announced in December it planned to acquire MoneyLion for $82 a share, approximately $1 billion in cash value.
New York fines Block for Cash App anti-money-laundering lapses
Regulators said the payment company did not provide sufficient customer identification and monitoring, increasing risk for its transfer app. This week’s fine follows earlier penalties in other states and the federal government.
Tariff whiplash has banks and their clients pausing deals
After rapid changes in U.S. trade policy, banks and their clients are putting merger deals on ice until the dust settles.
Fed’s Goolsbee watching credit conditions amid uncertainty
Federal Reserve Bank of Chicago President Austan Goolsbee said to understand how banks are faring in the current environment of tariff-induced uncertainty, he’ll be watching the relationship between credit spreads and equity markets.
Solid Financial files for bankruptcy after pig butchering scandal
Victims of a pig butchering scheme recently sued Qbit, a Solid customer that allegedly laundered millions of dollars through Solid accounts.
Executive compensation of FHLBank execs comes under scrutiny
A recent letter addressed to the FHFA fueled a consumer advocacy group to look at salaries, which have been criticized as not aligned to the system’s purpose.