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A coalition of financial industry groups is calling on the Federal Deposit Insurance Corp. to provide more data and extend the comment period on proposed brokered deposit restrictions, warning the changes could disrupt banking practices and harm consumers.

New standards forwarded by the Public Company Accounting Oversight Board and approved by the Securities and Exchange Commission bolster auditor responsibilities and introduce enhanced technology use, impacting over 350 publicly traded banks.

"Fed watchers will be parsing Powell's comments for signs that a 50bp rate cut is on the table for September," noted Lauren Saidel-Baker, an economist with ITR Economics. "However, the notoriously tight-lipped chair is unlikely to confirm this, making a 25bp cut the most likely outcome."

Federal Reserve Gov. Michelle Bowman said she has concerns about an uptick in inflation and will need to see more positive data before supporting an interest rate cut.

The new president will shape the direction of banking policy, but because financial regulators are more insulated from politics than many other areas, that transition will be gradual.

Banks are boosting their use of new machine learning to improve security risk, but securing international transactions presents a different set of challenges.

The Consumer Financial Protection Bureau has moved to ban medical debt from appearing on credit reports, but its analysis relies on a sliver of consumer data from more than a decade ago.

For half a century, the Shadow Open Market Committee has been one of the Federal Reserve's sharpest critics. After years of seeing its public profile wither, the group is eyeing a return to prominence.

The military-focused company, which operates an insurer and a $111.7 billion-asset bank, has tangled with regulators during Wayne Peacock's tenure. He will retire in the first half of 2025.

Four companies are fighting CFPB enforcement actions by claiming the agency cannot be funded by the Federal Reserve, which has not been profitable since 2022. The consumer bureau calls the new legal theory "meritless."

The job reductions come as the card network focuses on emerging markets, artificial intelligence and other nascent technology over transaction volume.

Federal Reserve Gov. Christopher Waller says the central bank is tracking research on financial stability risks related to payments, as well as blockchain and crypto developments.

Berkshire Hathaway trimmed positions in Capital One and Bank of America in the last several months, public filings show.

Acima offers lease-to-own plans on consumer items, but the Consumer Financial Protection Bureau and New York officials are calling those plans credit. The battles, playing out in separate courts, could trigger more expansive protections for customers.

Heritage Bancshares Group entered into a written agreement with the Federal Reserve, promising to address issues with cash flow and capital management.

The overall size of the combined entity is trivial compared to industry behemoths. It is evident the benefits to consumers from the Capital One-Discover merger dramatically exceed the speculated harms that caution against it.

Borrowing costs have fallen to their lowest level in more than a year as inflation metrics drop to 2021 levels, seemingly vindicating the Federal Reserve's decision to maintain their restrictive monetary policy.

Regulators have been working their way steadily down from the biggest players in the industry to regional firms in their quest to stamp out abuses of "off-channel" communications.

The card brand adds to partnerships that enable data sharing and cross-selling; the U.K. bank is lowering fees based on clients meeting metrics for sustainability; and more.

Thanh Roettele will help guide the Canadian bank's growth in the mortgage warehouse space in one of its latest moves aimed at the U.S. market.