Politics

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.