Claire Williams

Jonathan Gould, who's worked in the crypto industry and has advocated for more fintech and crypto-friendly regulation of banks, was confirmed by the Senate Thursday. He is expected to both continue deregulating the banking sector and encouraging bank-fintech partnerships.

New Jersey state lawmakers have introduced a state-level Community Reinvestment Act that would include online lenders and credit unions — who are exempt from the federal law — in its scope.

House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.

A Federal Reserve proposal to calculate stress capital buffers would mean that the banking system could be less likely to withstand an economic shock, the Democratic senator said.

The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.

Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.

The Senate Banking Committee is now proposing to cut the cap by which the Consumer Financial Protection Bureau can request funds from the Federal Reserve to 6.5% of the Federal Reserve's operating budget after its opening bid of 0% was rejected by the Senate parliamentarian.

As the Federal Reserve considers changes to the supplemental leverage ratio, Fed Board Chair Jerome Powell said that effort is one piece of a broader deregulation package that will also address the Basel III capital rules.

Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.

The Federal Reserve chair appears before the House Financial Services Committee for his first of two days of testimony on Capitol Hill this week, part of his biannual monetary policy report to Congress.

House Financial Services Committee Chair French Hill, R-Ark., declined to say whether he would pass the Senate's GENIUS Act without making his own changes, as President Trump has preferred.

President Donald Trump has signed a Congressional Review Act resolution that eliminates the Office of the Comptroller of the Currency's Biden-era rules requiring stricter reviews of bank mergers and a time-out clock for some institutions.

Senate Parliamentarian Elizabeth MacDonough has ruled that Republicans cannot move ahead with slashing the Consumer Financial Protection Bureau's funding and Federal Reserve staff pay in the tax bill.

A group of more than 50 bipartisan financial experts, including former Fed Chairs Ben Bernanke and Janet Yellen, said that effectively eliminating the Office of Financial Research and weakening the Financial Stability Oversight Council would have devastating effects for the financial system.

The legislation has been able to garner a level of bipartisan support that was not possible in previous Congresses because of a lack of support from Democratic lawmakers, but many of those benefited from crypto industry contributions in the 2024 election cycle. 

Illinois Gov. J.B. Pritzker, a Democrat, signed a bill that delays the implementation of the interchange law for a year while banks fight it in court.

As the Senate stands poised to pass a landmark bill establishing rules for stablecoin issuers, a provision allowing state-chartered uninsured banks to operate in states without prior approval is drawing concern from observers and opposition from state regulators.

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.

The House Financial Services Committee passed a crypto oversight bill in a 32-19 vote, as well as several other bills bankers support, including one to curtail abusive trigger leads in mortgage lending, in a lengthy markup.

Sen. John Thune, R-S.D., filed for cloture and filled the amendment tree on the stablecoin bill, effectively closing the path for the credit card legislation offered by Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kan., that would address credit card swipe fees.