Politics

In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff's lawyer says many lenders are vulnerable to the same accusations.

The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."

Banks are merging the ubiquity of fiat money with the advantages of digital networks and are building the kinds of products crypto firms can't match.

More than 20,000 consumers have seen their bank accounts abruptly terminated in recent months. Experts believe financial institutions are responding to the Trump administration's restrictionist immigration policies.

President Donald Trump said he wouldn't sign the housing bill, which includes several riders aimed at helping community banks, until Congress passes the SAVE Act.

The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.

Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.

New York State's attorney general has reached settlements with the two banks, which will pay a combined $90,000 in penalties in connection with alleged violations of rent stabilization laws.

Senators from both parties criticized banks over overdraft fees, though populist Republicans and their more establishment conservative colleagues were split over whether blame for the problem lies with banks conduct or the consumers.

The Federal Reserve's new chair wants to change the way the central bank communicates with markets and the public. What those changes ultimately amount to could represent a major shift in an agency that has made transparency a guiding light for decades.

The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.

The D.C. Circuit Court of Appeals halted the Trump administration's attempt to fire nearly two-thirds of the Consumer Financial Protection Bureau's workforce, upholding a March 2025 injunction.

A potential deletion from a long-standing regulatory definition has banks questioning how to classify vast swaths of their lending books.

Guidance documents from the Consumer Financial Protection Bureau and Treasury's Financial Crimes Enforcement Network heightening bank scrutiny of individual tax identification numbers in mortgage applications could discourage banks from issuing those kinds of loans.

The Federal Reserve weighs rising inflation and a growing economy against a truce in the Middle East and the rise of artificial intelligence in the first monetary policy meeting under new Chair Kevin Warsh.

The first bipartisan, bicameral housing compromise includes a suite of community banking provisions long sought by the industry.

Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.

The Federal Housing Finance Agency's annual report to Congress asks for enforcement and referral powers beyond the limited ones it currently has.

Stephen J. Scott, an investigator hired to audit the Federal Reserve's handling of Silicon Valley Bank before its collapse, says the probe is focused on "facts, not politics." But more than three years on, the biggest question surrounding the U.S.'s second most costly bank failure for many is who bears the blame.

Multiple states are testing the ability of federal banking regulations to preempt state laws. If they succeed, a core pillar of the U.S. economy — the dual banking system — could begin to crumble.