Office of Management and Budget Director Russell Vought told the House Budget Committee Wednesday that the Community Development Financial Institutions Fund is still a target for elimination by the administration because it promotes "woke" ideology.
After a strong first quarter, America's second-largest bank hailed the resilience of the U.S. consumer, but also forecast rising inflation in the near future.
Federal Reserve Gov. Michael Barr said in a speech Tuesday that rapidly changing trade policies and conflict in the Middle East are straining rural communities by raising business operating costs.
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Banks must plan to support decentralized finance without disturbing their existing businesses. That's easier said than done.
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The card network expanded work with blockchain firms OwlTing and Tempo, increasing its reach into agentic commerce and stablecoins.
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The credit card giant's BVNK acquisition wasn't a bet on crypto hype. It was a hedge against irrelevance. It suggests that the companies that defined the last era of finance are now preparing for a very different future.
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Finance and education veteran Walter Rendon wants to ensure that more young people get the training and mentorships that helped him break into the field.
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Touchstone Wealth Partners is the fourth team with more than $1 billion in client assets to join Wells Fargo's FiNet unit this year.
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For advisors like Chris Diodato of WELLth Financial Planning, everything from insurance to industry software is costing more these days.
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Large loan balances are increasingly common in non-QM and HELOC securitizations, bringing faster prepayments and higher delinquency risks, Bank of America Securities research shows.
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Half of Gen Z homeowners and 44% of millennial homeowners were at risk of missing at least one mortgage payment over the last two years, ServiceLink found.
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Company team members, including those in affiliated business arrangements, will be eligible; real estate and joint venture agent partners will not be.
The move is the first cog in a wider plan to make tokenized deposits more interoperable across borders and, eventually, among the bank's clients.
Deutsche Bank is raising the base pay of Supervisory Board Chairman Alexander Wynaendts by 21%, Wells Fargo has hired Neil Ghosh as head of chemicals investment banking, Bank of America's Alexandre Bettamio is being considered for chief executive officer of Brazilian stock and derivatives exchange B3 SA, and more in this week's banking news roundup.
President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if he does not resign after his term as head of the central bank ends in May. Trump made a similar threat against Fed Gov. Lisa Cook before attempting to fire her last August.
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The development of artificial intelligence could be used to embed a moral architecture in the new financial system.
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The Federal Reserve's initial step toward doing away with paper checks is welcome, but any economy-wide transition must consider the needs of a variety of stakeholders, including many consumers who still rely on them.
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Goldman Sachs' earnings were stellar, and the other major will likely also be strong; but the details beyond the bottom line that are worth paying attention to.
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Bank of America and Oracle are among those tweaking their treasury management and supply chain technology, partly to address clients that face cash management challenges from geopolitical risk.
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The crypto exchange is refusing to pay criminals who accessed internal systems through rogue employees, sparking concerns over its new Fed master account.
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Four years ago, the Detroit-based auto lender made a pledge to support men's and women's sports with equal advertising dollars. It's reached that goal a year ahead of schedule — and it's not stopping there.
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Bank executives are taking Anthropic's new AI seriously, but cybersecurity experts are dismissing the doomsday framing as a clever marketing schtick.
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The San Francisco-based banking giant reported increased earnings and continued benign credit conditions, but net interest income fell short of Wall Street's expectations.
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