Politics

A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.

Alexis Goldstein, who was terminated from the Consumer Financial Protection Bureau last week, is running for Congress in Maryland's 6th District, which hosts a disproportionate number of federal workers.

The Federal Reserve is moving quickly to implement its proposed "skinny" master account, giving state-chartered fintechs more access to the central bank's payment systems. But experts say a legal challenge to the rule is almost certain, regardless of where the Fed draws the line.

In a speech Tuesday, Federal Reserve Gov. Michael Barr said it was possible that artificial intelligence will boost productivity in an undisruptive way. But he said policymakers should also be wary of a financial crash if those gains are not realized or a rapid adoption that could lead to labor displacement.

The Office of the Comptroller of the Currency Tuesday issued a proposed rule that would create an independent appeals board, de novo review standard for banks and uninsured firms like trusts, OCC says it'll increase trust in the system.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Monday morning that the central bank will introduce two capital proposals that she said are aimed at boosting banks' role in the mortgage market.

Policymakers in Washington have rarely been as aligned with the banking industry as they will be for the next year or two. Bankers should use this time to expand and fortify their businesses for the future.

Attorneys from Holland & Knight warn that Treasury is targeting financial services companies in Minneapolis and at the southern border in an AML crackdown.

The Bureau of Labor Statistics released its January Consumer Price Index Friday, showing that inflation rose 0.2%, while the annual rate eased to 2.4% after holding at 2.7% for several months. The data reduces the likelihood that the Federal Reserve will cut interest rates in the near future. 

The Small Business Administration plans to bar green-card holders from receiving federal small-business loans. The result will be devastating for large swathes of the U.S. economy, costing jobs and cutting tax revenue.

The Consumer Financial Protection Bureau's complaint portal has been flooded in recent years, but corporate debt collectors, industry attorneys and consumer advocates question whether the bureau's efforts to reduce the volume will help consumers as much as it helps the firms they're complaining about.

Sens. Ted Cruz, R-Texas, and Katie Britt, R-Ala., offered a new bill that would index the Durbin Amendment's debit fee threshold to inflation. The bill joins a number of community bank-centered bills offered or moving through Congress

The sports betting company said it would stop accepting credit card deposits for its sportsbook, casino and racing products in the U.S. Wagers placed using credit cards are typically more expensive than those made with other forms of payment.

An internal memo from the Federal Reserve's supervisory staff will begin reviewing outstanding "matters requiring attention" and "matters requiring immediate attention" to ensure that they meet the standards laid out in an October directive.

The Federal Housing Finance Agency and Ginnie Mae agreed to look more closely at credit line use, according to the Government Accountability Office.

In a major setback for banks and credit card networks, a federal judge upheld an Illinois law that bans the collection of interchange fees on sales tax and tip portions of card transactions. Banks are expected to appeal the ruling.

The Bureau of Labor Statistics issued its delayed January employment report Wednesday morning, showing the economy added 130,000 jobs in January. But the agency also sharply revised its estimates for total jobs created in 2025 to 181,000 from 584,000.

An immediate effort to unload some of the central bank's assets could do more harm than good. Fed chair nominee Kevin Warsh should first turn his attention to problems affecting banks' liquidity.

Bank-favored provisions that were included into the House's version of a bipartisan housing bill threaten to derail Senate passage, but Senate Banking Committee moderates seem skeptical of the combination.

In a future world where AI agents transacting in stablecoins are a major factor in the U.S. economy, the Fed's traditional metrics for identifying an economic downturn will leave policymakers dangerously behind the curve.