Politics

It's time to drag sclerotic, paper-based U.S. federal payment operations into the digital future. The technology exists, and America's global competitors are already putting it to use.

The largest U.S. bank will now call the initiative Diversity, Opportunity & Inclusion, or DOI, Chief Operating Officer Jenn Piepzak said in a memo to staff Friday.

The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.

The OCC will no longer assess reputational risk in bank exams, aligning with President Trump's push to curb debanking, which critics say drove politically motivated account closures.

The Federal Reserve governor voted against the decision to slow the pace of balance sheet reduction earlier this week, preferring to allow the current pace of reduction.

Presidents have long rushed to take credit for booms and distanced themselves from busts. But Trump's situation is unusual. The risks to the U.S. economy — potentially including stagflation or even recession — are closely linked to his own flagship initiative: a new tariff bonanza due in just over two weeks.

Gutting U.S. bank regulatory agencies risks undermining public faith in the banking system and driving community bank customers into the arms of a few "too big to fail" institutions.

Get expert analysis of the May FOMC meeting, inflation outlook, and Powell's comments. Join Wilmington Trust's chief economist Luke Tilley on May 8 at 1 p.m. for key takeaways and forecasts.

The issues are hindering the Federal Deposit Insurance Corp.'s ability to meet its regulatory duties, according to the agency's Office of Inspector General. 

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.