Claire Williams

Earlier in the day, Fed Gov. Stephen Miran chastised the Fed for wading into politics under the Biden administration, as he currently takes unpaid leave from President Donald Trump's top advisory council.

Treasury laid off all of its Community Development Financial Institution Fund staff on Friday, with the reduction in force notices saying that the department plans on abolishing the fund.

The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.

An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.

A new interagency guidance clarifies when banks must report suspicious activity, easing compliance workloads and narrowing the reporting requirements to focus on higher-value cases.

House Financial Services Committee ranking member Maxine Waters, D-Calif., asked bank regulators to give banks the supervisory clearance to extend lines of credit and modify loan terms for federal employees furloughed after the government shut down last week.

Citi chief compliance officer Jennifer Taylor leads risk management across 180 markets while championing AI innovation and overseeing complex international divestitures.

Frank Bisignano, the former chairman and CEO of Fiserv, will become the "CEO" of the IRS, a newly created role, in addition to his post running the Social Security Administration.

The Consumer Financial Protection Bureau will delay its small-business lending data rule by a year, citing litigation and plans to rewrite the regulation in the interim as reasons for the delay.

The first government shutdown since 2019 will slow flood insurance originations and new Small Business Administration loans, though self-funded banking regulators will continue operating as usual.

A bipartisan bill offered Monday by Senate Banking Committee member Katie Britt, R-Ala., and Andy Kim, D-N.J., would force the Securities and Exchange Commission to update a 25-year-old threshold that holds small financial firms to higher regulatory standards.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., led a group of congressional Democrats in a letter to bank regulators telling them that loosening capital rules wouldn't improve the Treasury market's functioning.

The CDFI Fund is updating definitions of eligible activity to be considered for the funds, including removing climate-focused financing and references to race and ethnicity.

There's no designated lender of last resort for nonbank stablecoin issuers in either the recently-passed stablecoin bill or the crypto market structure bill being considered, which experts say could mean bailouts down the road.

Bankers face a "critical limitation" due to the vast number of oversight agencies and institutions, like social media companies and telecom institutions, that a fraudster might touch on their way to scam a consumer.

A bill on reciprocal deposits passed the committee unanimously, while another measure on custodial deposits passed by a wide, bipartisan margin.

The Senate voted 48 to 47 to confirm Stephen Miran to the Federal Reserve Board, just ahead of the central bank's rate setting committee meeting.

The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.

At a hearing on deposit insurance reform, Republican lawmakers concluded that only the largest banks would oppose a proposal to raise insurance for business accounts to $20 million.

Opposition is building against a bipartisan bill that would raise deposit insurance for business accounts, with increased deposit insurance premiums a chief concern.