Ebrima Santos Sanneh

A proposal from the Office of the Comptroller of the Currency would roll back Biden-era recovery planning rules for banks, leaving them with broad discretion to determine their own recovery protocols.

Capital One, PNC, Truist and, U.S. Bancorp are urging regulators to cut duplicative calculations and align U.S. rules with global standards, a longstanding preference for banks but one that will likely find a warm reception from a deregulation-focused Trump administration.

The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.

Panelists speaking at American Banker's Most Powerful Women in Banking conference said they appreciate the deregulatory efforts underway under Trump, but said clarity on tariffs and rules of the road for emerging technologies would unlock future growth.

The Trump administration has ordered banking agencies to root out and identify instances of politically motivated debanking while at the same time raising pressure on banks to scrutinize or potentially sever their ties with liberal nonprofit clients. That dynamic creates a compliance puzzle with no obvious answers, experts say.

Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.

The conditional approval came with residency waivers for board directors and green-lights the bank's business model, which is aimed at serving tech companies and ultra-high net worth customers in the digital asset space.

Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency will open the bidding process for failed banks to private equity and other nonbanks, streamline resolution plans and revamp its bidding and funding models, reforms spurred by 2023's bank failures.

Bridge will join a number of digital asset firms vying for the coveted charter, seizing on the crypto-friendly environment in the second Trump term.

As Coinbase joins a wave of crypto companies seeking national trust charters from the Office of the Comptroller of the Currency, traditional banks are warning regulators not to rush approvals for crypto firms eager to enter the federal banking system.

The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department.

The Federal Deposit Insurance Corp. approved proposals Tuesday that would define "unsafe or unsound practices" and ban the use of "reputation risk" in supervisory exams.

The Office of the Comptroller of the Currency Monday said it will scrap fair housing reporting requirements, fast-track licensing for small banks and simplify regulation for smaller institutions overall.

Comptroller of the Currency Jonathan Gould says he wants to crack down on big banks caught cutting ties with controversial, if lawful, individuals and businesses, as required by President Trump's debanking initiative.

Federal Reserve Vice Chair Philip Jefferson said Friday that the economic outlook is uncertain and that he was adopting a cautious approach to gauging whether slowing growth and a softening labor market outweigh inflation pressures from tariffs.

The ongoing government shutdown prevented the Bureau of Labor Statistics from releasing its September jobs report Friday, but job growth appears to be softening. The lack of reliable government data comes as the Federal Reserve mulls further interest rate cuts. 

Hill, who has been serving as acting chair since January, has steered the agency toward deregulation and away from Biden-era priorities, with strong backing from big banks.

Adrienne Harris, head of the New York Department of Financial Services, will step down after four years in the job. She will be replaced by Kaitlin Asrow as acting superintendent beginning on Oct. 18.

The Treasury Department's Financial Crimes Enforcement Network is seeking public comment on a survey of anti-money-laundering compliance costs from a variety of nonbanks, including casinos, insurers, lenders and other nonbanks, a possible precursor to deregulatory proposals down the road.

Personal income, which rose $95.7B in August, was overtaken by consumer spending, which jumped $129.2B, pushing the saving rate to 4.6% amid steady inflation and higher wages.