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The financial advisory firm initially sought an industrial loan charter back in 2020. It's the third company to receive the necessary approvals this year, joining General Motors and Ford.

The proposed national trust charter company would be a wholly owned subsidiary of Morgan Stanley. The application was filed on Feb. 18.

A final rule published by the Office of the Comptroller of the Currency Friday will formalize a 2021 interpretive guidance allowing national trust banks to perform non-fiduciary custody. The banking industry complained that the rule runs counter to the traditional scope of the charter. 

The Royal Bank of Canada's base outlook is that tariffs will remain at their current levels. But it also sees a possibility that U.S. trade policy will bring on a severe North American recession.

The agency's 400-page GENIUS Act proposal sets capital, reserve and operational rules to govern how stablecoin issuers may operate. 

The heads of the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration, as well as the Federal Reserve vice chair for supervision, will testify in the Senate Thursday morning in their first joint appearance in the upper chamber since being confirmed.

President Donald Trump talked about institutional single-family home ownership and housing affordability, as well as inflation, but left credit card rate caps, debanking and even crypto alone at the State of the Union address.

Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.

If the company gets final approval, it will be the newest crypto firm to receive a charter in recent months.

Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.