Opinions

Lower credit costs and better expense control helped the San Francisco-based titan offset the impact of lighter-than-expected revenue.

The latest news on President Donald Trump and the Trump Administration

The Minneapolis Fed chief repeated his view that the potential inflationary impact of tariffs make the Fed less likely to lower interest rates, even in the face of a weakening economy.

A Department of Government Efficiency team is working with FDIC leadership to "increase efficiency," which could include cuts to contracts and streamlining staff. FDIC says DOGE staffers have "appropriate clearances."

Regulators said the payment company did not provide sufficient customer identification and monitoring, increasing risk for its transfer app. This week's fine follows earlier penalties in other states and the federal government.

Victims of a pig butchering scheme recently sued Qbit, a Solid customer that allegedly laundered millions of dollars through Solid accounts.

Federal Reserve Gov. Michelle Bowman has been a crucial ally for community banks. With her impending rise to regulatory vice chair, small banks worry about losing their direct access to the Fed's board of governors.

Municipal AAA yield curves were cut up to another 42 basis points, depending on the curve, as of noon, pushing yields to multi-year highs and long-end muni to UST ratios above 100%. Muni yields have risen up to nearly 100 basis points in spots since the bond market rout began.

In a speech at the American Bankers Association Washington Summit Wednesday morning, Treasury Secretary Scott Bessent downplayed economic risks from tariffs, floated capital reforms and urged regulatory relief for community banks.

The decision to stop enforcing the Corporate Transparency Act, which requires the disclosure of the beneficial ownership of businesses, could make the U.S. an attractive environment for fraudsters.