Fed Gov. Miran makes the case for much lower interest rates
Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president’s immigration and fiscal policies will exert downward pressure on inflation.
Capital One settles lawsuit over influencers’ commissions
The credit card giant has reached an agreement to settle a class-action lawsuit involving its coupon-finding browser extension. Content creators had accused Capital One of stealing their sales commissions.
Global Payments expands its checkout revamp
The company is selling its Genius platform to large restaurant and entertainment companies in an attempt to counter the wave of improvements from its rivals.
What does the OCC think ‘debanking’ has to do with the CRA?
The agency’s announcement that it will consider debanking as part of Community Reinvestment Act examinations is the latest in a series of mystifying pivots by federal banking regulators.
Fed’s Musalem sidesteps Fed independence question
Federal Reserve Bank of St. Louis President Alberto G. Musalem would not directly say whether central bank independence is under threat, instead highlighting that the topic has received more attention.
Investors flock to new fintech for bank stablecoins
Stablecore, a recently founded fintech, completed its first funding round with the goal of bringing stablecoin technology to banks and credit unions.
Who’s really buying community banks — and why the full story matters
A credit union CEO takes issue with the narrative that the purchase of community banks by credit unions is a dangerous trend. In fact, he argues, it’s rare, and when it happens, it benefits the communities those banks serve.
Lone dissent at Sept. FOMC vote seen as ‘good sign’
Prior to this week’s Federal Open Market Committee meeting, many onlookers thought a Trump-aligned and oppositional voting bloc could emerge, complicating the central bank’s message. But the quarterly economic projections show that not to be the case.
Private credit facing ‘clear signs’ of rising stress, BofA Says
Signs of elevated stress are emerging within the $1.7 trillion private credit market as default rates are rising and more borrowers are choosing to defer cash interest payments, according to a Bank of America Corp. report.
Dallas bank scrambles amid borrower’s chaotic bankruptcy
Triumph Financial took steps to guard and move scores of cars backing its $23 million loan to Tricolor Holdings after the subprime auto lender filed for bankruptcy last week.