Claire Williams

Treasury Secretary Scott Bessent is slated to testify in the House Financial Services Committee Wednesday morning as part of the committee's regular oversight of the Financial Stability Oversight Council.

WomenVenture, a Minneapolis-based Community Development Financial Institution, was already under strain from stalled federal CDFI funding. The recent immigration crackdown added significant uncertainty for its customers as well.

Legal experts say the underlying economics of stablecoins mean that banning yield payments — banks' top priority in upcoming crypto market structure legislation — may not be as simple as banks had hoped.

Comptroller of the Currency Jonathan Gould said in a letter to Sen. Elizabeth Warren, D-Mass., that the OCC "intends to act consistent with this duty rather than your demand."

The House Financial Services Committee passed a community bank tailoring bill 33-21.

President Trump in Davos, Switzerland, talked about his call for lower credit card interest rates and more affordable housing in a lengthy speech that mostly focused on his plan to take over Greenland.

White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue "Trump cards" with 10% rate caps, a move that could quell Congress' moves to impose a cap through legislation — but that's no guarantee.

Stablecoin yield has continued to be a flashpoint as bank groups look for a blanket ban on crypto exchanges and other nonbanks offering yield-like rewards for holding crypto.

President Donald Trump said that lawmakers should support legislation that would require credit cards issued by most large banks to offer merchants the choice between two unaffiliated card networks, one of which cannot be Visa or Mastercard.

House Financial Services Committee Chairman French Hill's community-banking package includes reciprocal deposits, tailoring and many other items on community bankers' wish lists.

President Trump said he would prohibit large institutional investors from buying single-family homes. While the executive couldn't bar such investments on its own, a legislative ban could gain bipartisan support.

As the Senate Banking Committee stands poised to mark up crypto market legislation within days, banks are focused on blocking crypto exchanges from offering rewards on stablecoins, which they fear could siphon deposits away from community banks.

When Congress returns from its recess in 2026, a number of financial legislative issues will be teed up, including crypto market structure, deposit insurance and supervisory disputes.

The Senate confirmed Travis Hill as the chairman of the Federal Deposit Insurance Corp. as part of a slate of nominations that were approved late Thursday. Hill has been serving as acting FDIC chair since January.

The Federal Reserve said in a statement that its "understanding of innovation products and services have evolved" since the initial guidance was published in 2023.

The House Financial Services Committee unanimously passed bills that would give the Federal Deposit Insurance Corp. more options in resolving failed banks, including by waiving the "least-cost resolution" requirement in some circumstances.

The Financial Services Forum, which represents the largest U.S. banks, formed a new 501(c)(4) advocacy group to amplify big banks' policy preferences, a move that could counter the crypto industry's growing political influence.

In a Senate Banking subcommittee hearing, lawmakers discussed a bill that would guarantee all legal industries and all individuals fair access to banking services.

Leading Democrats on the Senate Banking Committee sent a letter to Chair Tim Scott, R-S.C., pointing out the as-yet unsatisfied legal requirement for prudential regulators to appear in Congress semiannually.

The House Financial Services Committee discussed allowing banks to experiment with artificial intelligence with a waiver from regulatory penalties, including consumer protection laws, in a hearing.