Jack Schaffer has been appointed to head a new
Mr. Schaffer, currently commissioner of savings and residential finance,
The new agency will include his former office and that of the
Mr. Schaffer has been rumored to be in line for the position since
Federal Reserve Gov. Michael Barr said Wednesday that his dissents over the past year on proposed regulatory changes reflect concern that oversight of banks could be significantly weakened.
Federal Reserve Vice Chair Michelle Bowman said the Fed's proposed capital framework will inject up to $100 billion into the economy to support small-business loans.
House Financial Services Chairman French Hill is pushing regulatory relief for banks, reforming the Consumer Financial Protection Bureau and advocating a "whole-of-government" assault on fraud.
Recurring payments for stuff like streaming content can get lost in the shuffle, creating an opportunity for the big card brands.
New survey data finds little correlation between increased AI spending and layoffs in financial services. But many executives said they expect job cuts at their companies in the next 12 months.
The stalemate over stablecoin yield leaves both sides uneasy, but ultimately favor banks.
