Policy News from American Banker

The request for information was issued as part of an executive order aimed at eliminating paper checks as a form of federal payment in most cases, which the administration says aims to curb fraud, modernize disbursements.

The Federal Reserve's preferred measure of inflation moved closer to the 2% target last month, but the impact of tariffs remains to be seen.

The megabank, which has spent years trying to improve its regulatory compliance, now has just one consent order remaining. And observers expect that Wells' historic asset cap will be lifted soon.

When a card gets canceled or expires, Visa, Mastercard and other networks send replacement information to merchants. This can be a problem for consumers.

The Federal Reserve chair said he made no commitments on the central bank's next monetary policy adjustment, only that the decision would be made based on incoming data.

Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.

In a letter to the Office of the Comptroller of the Currency, the American Bankers Association rebuffed state regulators' calls to rescind the agency's broad state preemption rule, defending federal law's supremacy in the dual banking system.

The Trump administration's plan to shift $1.6 trillion in student loans could include a sale to a private buyer. If that's the case, any potential purchaser has some serious due diligence to undertake.

Analysts awaiting specifics on the "implicit guarantee" for Fannie Mae and Freddie Mac are split on whether mortgage rates and guarantee fees could rise.

Navy Federal Credit Union's partnership with Bloom Credit, a data breach at Coinbase and other tech news draw attention from bankers going into June.

What if the guiding narrative of 2,000 years of human history was a slow march toward the worship of money? A new book by Paul Vigna argues that we could fix this problem if we declared an old-fashioned jubilee and simply erased all debts.

Banks sued the Consumer Financial Protection Bureau last year to stop the 1033 open banking rule from taking effect. Now the Trump administration plans to kill the rule.

During its meeting last month, some members of the Federal Reserve's monetary policy committee expressed concern about persistent supply chain disruptions while others were confident price growth would be constrained.

U.S. households were financially sound last year, but the Federal Reserve's annual well-being report highlighted a few emerging trends, including rising buy now/pay later delinquencies and incidents of financial fraud.

Bill Pulte and the government-sponsored enterprise's chief executive will be working with a firm that analyzes big data and utilizes artificial intelligence.

The quarterly data showed bank profits were driven by gains at large firms while credit quality remained mixed, with commercial real estate loan stress at relatively high levels.

The Consumer Financial Protection Bureau's erosion and the second phase of the Capital One merger with Discover are top of mind for bankers going into June.

The Treasury Department is claiming extensive authority to pry into the private financial information of Americans on the flimsiest of pretexts. It's time for the courts to step in.

Regulators say the Mississippi-based depository satisfied the terms of the $5 million settlement it reached with Biden administration officials in 2021.

Agency lawyers called the rule, which was almost a decade in the making, "unlawful" in a court filing.