What if … the Treasury secretary also ran the Fed?
Reports that the White House is considering naming Treasury Secretary Scott Bessent as the next chair of the Federal Reserve have raised eyebrows and speculation in Washington — especially in an administration with a penchant for assigning cabinet secretaries multiple jobs.
Gardening, travel, bedtime stories: AI beyond the office
Bankers are finding creative uses for generative AI in their personal lives.
Cruz pitches $1.1T cut to Fed bank payments for Trump tax bill
The Texas senator pitched Republican senators on ending the Federal Reserve’s authority to pay interest to banks, claiming it would save $1.1 trillion over a decade.
Where PayPal is placing its bets on agentic payments
New forms of artificial intelligence can take most, if not all, of shopping and checkout out of the hands of humans. Not everybody is going to be comfortable with that, though the payment giant sees travel as a good place to start.
Banks vs IMBs: who wins the HELOC war?
A non-bank lender won’t ever compete with a bank on price, but can offer flexible underwriting and faster origination times, according to a veteran originator.
Small businesses are too important for banks to leave them behind
Small businesses are essential to the ongoing prosperity of the United States, but they are not well served by the country’s largest banks. For everyone’s sake, that needs to change.
Fed seeks to preserve COVID lessons in its rates strategy
As they rewrite the strategy document that guides their interest-rate decisions, Federal Reserve officials are trying to figure out how to embrace the labor market lessons learned before and during the pandemic.
Canadian banks prepare for the worst amid Trump tariffs
Royal Bank of Canada, BMO Financial and others increased allocations to cover the possibility of souring loans as trade pressures shake international markets.
Some banks welcome private credit. Others see a time bomb
JPMorganChase CEO Jamie Dimon said he wouldn’t invest in the private-credit business if he were in different shoes. Meanwhile, an executive at Zions Bancorp. predicted that the sector’s rapid growth will end badly.
Senate stablecoin bill passes a key procedural vote
The Senate voted 68-30 to invoke cloture on the GENIUS Act, which aims to regulate stablecoins, including backing from all Republicans and 18 Democratic lawmakers.