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More than 140 current and former lawmakers are defending the constitutionality of the agency's funding arrangements. The nation's highest court is expected to rule on the issue in its upcoming term.

Bank of America and JPMorgan Chase are particularly active as they build educational microsites and drive digital lending with EV manufacturers.

In its biannual supervision and regulation report, the Federal Reserve said the banking sector was strong but showing signs of shakiness after recent bank failures.

Comments from Federal Reserve Gov. Michelle Bowman last week show that supervisory reforms outlined by the Fed's top regulatory official could meet significant opposition, policy analysts say.

Balances reached nearly $1 trillion at the end of the first quarter, up 17% from a year earlier. The increase reflects higher spending by well-off consumers on travel and entertainment, as well as the pressure that lower-income households are facing from inflation and higher interest rates.

"The messaging from the Federal Reserve was that interest rates would remain low and that the inflation that was starting to bubble up would only be 'transitory,'" Greg Becker said.

One of the oldest U.S. banks sees innovation as part of risk management, not a discretionary cost.

Shares in small banks have plummeted during this year's banking crisis. But deposits have largely stabilized and credit quality remains historically strong, bolstering the case for bargain buying and a sector rebound.

Firms across every sector are struggling with higher interest costs — making it more challenging to refinance loans and bonds — while corporate executives are drawing more scrutiny from investors and creditors.

The Chinese government has forced banks to deny Chinese emigrants access to their retirement savings. What Beijing will demand next is anybody's guess.