Politics

President Trump and Senate Banking Committee Chair Tim Scott, R-S.C., visited the Federal Reserve Board headquarters Thursday afternoon to inspect ongoing renovations whose cost overruns have heightened scrutiny of Fed chair Jerome Powell.

A coalition of consumer groups sued the Consumer Financial Protection Bureau and acting Director Russell Vought for refusing to implement a statutorily mandated small-business data collection rule that is already tied up in litigation.

The House Financial Services Committee passed a number of bipartisan banking bills with wide margins, suggesting a growing consensus on how to handle issues like deposit insurance, de novo bank formation and the Federal Reserve's discount window.

Complaints to the Consumer Financial Protection Bureau have skyrocketed in the first half of 2025, due in part to an increase in payment scams generated by social media that target peer-to-peer payment platforms such as Zelle, Venmo and other apps.

The Department of Justice has filed a notice that it will appeal a D.C. District Court ruling that reinstated two democratic members of the National Credit Union Administration who had been fired by President Trump earlier this year.

Prospective stablecoin issuers — bank and nonbank alike — will now turn to banking regulators to tackle outstanding questions now that President Trump has signed the stablecoin bill into law.

The Federal Deposit Insurance Corp's decision to scrap Biden-era rules restricting industrial banks raises hopes for firms seeking to establish ILCs, but that doesn't mean the entry of the largest retailers and tech firms — whose entry to the industry banks most fear — is imminent.

Administration of the Community Development Financial Institution Fund at the Treasury Department will be led by the CDFI Fund's legal counsel following the resignation of the fund's director.

The Treasury's financial crime agency delayed enforcement of a variety of Bank Secrecy Act requirements for investment advisors in order to gain time to revise and tailor regulations.

We could be on the cusp of serious economic instability. Smart bankers should take the time to do a deep dive into the risk profile of their customers, and identify potential trouble spots.