Bank of America loan revenue rises, stock traders flourish
The Charlotte, North Carolina bank reaped the benefits of volatile markets and net interest income topped analysts’ estimates in the first quarter.
Why fintech BNPL credit reporting is a tough lift for banks
Affirm is reporting consumers’ buy now/pay later loans to Experian, following a February study with FICO. It’s one of the first steps in credit reporting for BNPL, potentially complicating banks’ assessments for other types of lending.
Edward Jones revives bank plans in bid to boost services — and revenue
An industry consultant thinks Edward Jones’ latest bid to start a bank is an attempt to add revenue sources as the traditional brokerage business becomes less lucrative.
CFPB asks Texas court to vacate credit card late fee rule
In a settlement with bank trade groups that sued the Consumer Financial Protection Bureau, the Trump administration has agreed to drop the credit card late fee rule with prejudice.
The Trump family is going all-in on crypto projects
President Donald Trump and his family have taken a interest in just about every corner of the crypto industry.
Fed’s Waller willing to ‘look through’ tariff hike inflation
Federal Reserve Board member Christopher Waller said he would not be deterred from classifying inflation as “transitory” despite the board’s recent experience underestimating inflationary pressures.
No more Trump ‘tailwind’: Goldman now sees recession risk
Just three months after hailing a positive “sentiment shift” following last November’s election, Goldman Sachs CEO David Solomon lamented President Trump’s trade war and said “the prospect of a recession has increased.”
CFPB’s Vought orders review of all past guidance
Acting Consumer Financial Protection Bureau Director Russell Vought also directed that future guidance not use the words “shall,” “must,” “required” or “requirement” to direct parties outside the federal government, except when restating clear legal mandates.
Exclusive: Starling Bank coming to U.S. to sell core software
The U.K. challenger bank’s Engine tech unit has registered in Delaware and will soon begin hiring a small staff on the East Coast. It faces the stiff challenges all new core banking software providers face in this country.
Federal judges side with Trump in allowing CFPB firings
A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit narrowed a lower court’s injunction barring the termination of Consumer Financial Protection Bureau employees but maintained restrictions on mass firings.