Ebrima Santos Sanneh

Sen. Joni Ernst, R-Iowa, is pressing Federal Deposit Insurance Corp. Inspector General Jennifer Fain for answers on whistleblower allegations of fraud, financial mismanagement and retaliation at the agency's watchdog office.

The Office of the Comptroller of the Currency said it would cease its participation in interagency principles for regulating climate-related risks at the banks it regulates. 

Banks can now engage in crypto without Federal Deposit Insurance Corp. approval, part of a broader Trump-era deregulatory push to integrate digital assets into traditional finance.

The Treasury will phase out the use of paper checks for most government payments in about six months. The Trump administration says the move will improve efficiency and reduce the cost of payment processing.

Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency would eliminate reputational risk from all supervision, release more guidance on cryptocurrencies and refocus bank supervision.

Acting Comptroller Rodney Hood discussed using fintech to evaluate self-employed borrowers' creditworthiness, saying alternative credit models could promote financial inclusion.

The OCC will no longer assess reputational risk in bank exams, aligning with President Trump's push to curb debanking, which critics say drove politically motivated account closures.

The issues are hindering the Federal Deposit Insurance Corp.'s ability to meet its regulatory duties, according to the agency's Office of Inspector General. 

House Majority Whip Tom Emmer pledged to pass stablecoin and crypto market structure bills by the August recess, following a request by the president.

Trade groups, citing federal banking conflicts, are asking for summary judgment to permanently block a state law banning interchange fees on taxes and tips.