Claire Williams

The data shows a sharp uptick in credit union acquisitions of banks, drawing the ire of community bankers as they lobby for credit union taxes.

A dramatic boardroom purge at the NCUA has unleashed a fierce debate over the future of credit unions, and whether they're still serving their original mission.

The White House working group on digital assets said in a report that regulators should "promote transparency regarding the process for institutions to obtain bank charters or Reserve Bank master accounts."

The CDFI Fund has yet to announce and disburse awards for five programs, even though applications closed months ago, the lawmakers said in a letter to Office of Management and Budget Director Russell Vought.

The Senate Banking Committee passed a housing package that includes funding for manufactured and other kinds of housing, but also includes an appraisal provision that mortgage bankers oppose.

The House Financial Services Committee passed a number of bipartisan banking bills with wide margins, suggesting a growing consensus on how to handle issues like deposit insurance, de novo bank formation and the Federal Reserve's discount window.

Prospective stablecoin issuers — bank and nonbank alike — will now turn to banking regulators to tackle outstanding questions now that President Trump has signed the stablecoin bill into law.

With the passage of the bill, large banks are looking into their own stablecoins or partnering with the sector, while concerns linger about state regulation, the separation of banking and commerce and the disintermediation of the banking system.

The GENIUS Act, which will give the green light to banks interested in stablecoins, but which has also raised fears that it will disintermediate the banking system, passed the House today and heads to President Donald Trump's desk.

The Republican Freedom Caucus wants to combine the market structure bill with another measure prohibiting the formation of a Central Bank Digital Currency. That move could tank the market structure bill's chances of becoming law, and with it the banking industry's best chances of getting its priorities enacted.

Some last-minute drama has derailed planned votes on crypto and stablecoin in the House, but the political maneuvering isn't likely to improve the long list of criticisms that bankers have raised about the legislation before it heads to President Donald Trump's desk. 

House Financial Services Committee Chairman French Hill  promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau. 

Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.

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.