Politics

The bipartisan co-chairs of the Community Financial Development Institution caucus sent a letter urging the Trump administration to continue supporting the CDFI Fund after it was slated for cuts in a recent executive order.

The Independent Community Bankers of America wants Congress to eliminate tax exemptions for credit unions with more than $1 billion of assets, scaling back an earlier request that would have targeted the entire credit union sector.

After the Federal Reserve moved to slow the pace of quantitative tightening, the Fed chair floated the idea of continuing to allow mortgage-backed securities to roll off its books even after the central bank has met its monetary policy objectives in reducing its balance sheet.

A federal judge ruled that the bank must keep the $14 billion granted by the Environmental Protection Agency in the recipients' accounts. The Trump administration has been trying to pull back money distributed under President Joe Biden.

House Majority Whip Tom Emmer pledged to pass stablecoin and crypto market structure bills by the August recess, following a request by the president.

The Federal Reserve has signaled that it will make no change to its policy rate in March. All eyes are on what comes next for the central bank amid heightened economic uncertainty.

The firings are the latest by the president to challenge a 90-year legal precedent that shields members of independent agencies, part of his administration's move to gain greater influence across the government.

The financial services industry has made positive gains in consumer trust in recent years. As we enter what seems likely to be an era of deregulation, that newfound trust is theirs to lose.

Bo Hines, a top White House advisor on crypto policy, said banks can see "the writing on the wall" and will want to engage in the digital asset industry.

American Banker surveyed 100 banks, credit unions and payment firms on how gen AI, President Donald Trump's policies and consumer habits are changing their investments.

Small businesses and consumers deserve the relief that legislation like the Credit Card Competition Act would bring from the fees that burden every card-based transaction. Banks can easily afford it.

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

It's been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.

President Trump's selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the position quickly. Bowman was the preferred choice for many in the industry.

Past efforts to restructure bank supervision have been derailed by politics and agency turf wars. It remains to be seen whether the Trump administration is willing to spend the political capital necessary to push reform through.

An executive order issued late Friday cut the Treasury Department Community Development Financial Institution Fund and other federal programs to their legal minimum.

A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states' ability to respond to unemployment needs.

The first task for a new director of the Consumer Financial Protection Bureau should be sweeping away the clutter of ill-considered lawsuits and regulatory pronouncements left over from the Biden years.

In 2023, the Consumer Financial Protection Bureau cited Citibank for discriminating against Armenian Americans. The recent turmoil at the agency raises questions about whether the bureau will be able to carry out similar actions in the future.

Three Democratic senators joined Republican colleagues to confirm the businessman, who previously voiced his support for easing government regulations.