Daily Edition

The Trump administration's Office of Personnel Management sent a memo of frequently asked questions encouraging civil servants to go on vacation and even take a second job, which in some instances is contrary to longstanding agency conflict-of-interest rules.

Catastrophic weather events illustrate the risks and opportunities for banks.

In a Friday speech, Federal Reserve Board member Michelle Bowman said regulation and supervision should be aimed at expanding banking access, not limiting it.

The big payday comes after a year in which the bank made progress toward the removal of a federally imposed asset cap.

AI isn't inherently good or bad; its value depends entirely on how it's used. For financial institutions, this means shifting the focus from internal productivity gains to customer outcomes.

The cannabis industry and its financial partners see potential gains under Trump, either in the form of direct changes in policy, economic incentives or the nascent effort to curb debanking.

Federal Reserve Gov. Michelle Bowman is widely seen as the president's most likely choice for vice chair for supervision, a position soon to be vacated by Michael Barr. But while Bowman is the administration's most straightforward option, it's not the only one being considered.

The card network will provide payments support for the social network's financial app, potentially contributing to its ability to scale.

Money remittance provider Wise said it "strongly disagrees" with the Consumer Financial Protection Bureau's characterization that it advertised inaccurate fees and did not properly disclose exchange rates.

More than 80% of bankers surveyed said they increased their tech budgets to invest more in security, data analytics and AI.

The Dallas bank made some headway on its goal to slim down its multifamily loan portfolio, but $17 million in bad loans led to a bottom-line loss in the fourth quarter.

The Long Island-based company, which is in the middle of a makeover, saw its stock price rise sharply after reporting a net loss that was less than what analysts expected.

Russell Vought, should he be confirmed by the full Senate, would join a short list of those able to lead the CFPB, as his predecessor Mick Mulvaney did, per the requirements of the Vacancies Act.

The Chinese startup roiled markets with its AI assistant, which appears to be a less expensive answer to ChatGPT. Banks have reasons to be cautious about this particular model but also to hope it will bring down AI's costs.

The credit card issuer's earnings missed Wall Street estimates, but it reported improvement in sales, delinquencies and charge-offs. Management said unclear political direction and cloudy monetary policy could threaten an already conservative outlook for 2025.