Claire Williams

Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.

The American Bankers Association and the Illinois Bankers Association, among other groups, say a state law barring swipe fees for taxes and tips should be preempted by federal law.

Senate Majority Leader Chuck Schumer, D-N.Y., said the upper chamber could pass a bill laying out the regulatory framework for cryptocurrency this year, though few details were offered on how such a bill would cross the finish line.

Political contribution data shows that individual bankers have donated more to the Biden-Harris ticket than Trump in 2024, but overall have contributed more to Republicans than Democrats this cycle.

The bank doubled down on promises to use legal action if the Consumer Financial Protection Bureau brings an enforcement action against it related to fraud on the Zelle platform, saying in a statement that it would "not hesitate to seek assistance from courts."

A bill from Sens. Richard Blumenthal, D-Conn., and Elizabeth Warren, D-Mass., and companion House legislation from Rep. Maxine Waters, D-Calif., would change the Electronic Fund Transfer Act to guard consumers against losing money in authorized transfers that involve scams

Graham Steele, formerly the assistant secretary for financial institutions at the Treasury Department, laid out a detailed bank regulatory reform agenda for future progressive policymakers to consider that includes rolling bank Trump administration-era tailoring rules and accounting for the increased digitization of the banking system.

The proposal is "significantly flawed" in its approach to corporate governance, the lawmakers said.

Capital One's proposed deal to acquire Discover is being viewed by progressives as a test of how skeptical the administration really is about big bank mergers, while Republican lawmakers mostly support the deal.

Sen. Richard Blumethal, D-Conn., chair of the Senate Permanent Subcommittee on Investigation, asked bankers whether the Electronic Funds Transfer Act should be updated to include scams that involve authorized fund transfers.