Politics

President Trump placed a 90-day pause on most of his sweeping tariff package, but for banks and other financial market participants, the threat of volatility remains.

A group of 24 state attorneys general Wednesday called on House members to reject a Senate-passed Congressional Review Act resolution repealing the Consumer Financial Protection Bureau's overdraft cap.

In a speech at the American Bankers Association Washington Summit Wednesday morning, Treasury Secretary Scott Bessent downplayed economic risks from tariffs, floated capital reforms and urged regulatory relief for community banks.

Senate Banking Committee Chairman Tim Scott said Jonathan McKernan's final confirmation vote to lead the Consumer Financial Protection Bureau is "imminent."

The Office of the Comptroller of the Currency disclosed a significant email system security breach that revealed sensitive data about federally regulated banks. The breach follows a similar incident at the Treasury Department earlier this year.

The Federal Deposit Insurance Corp. aims to ease compliance for large banks, revisit crypto and stablecoin rules, and weigh inflation adjustments to regulatory thresholds.

Bill Pulte, making the announcement as chairman of Fannie Mae, did not provide additional details following earlier rumors of larger layoffs.

As President Donald Trump's tariffs whipsaw bank shares and threaten recession, the House Financial Services Committee chairman told a large room of bankers that efforts like repealing the small business data collection rule and passing legislation to Congressionally appropriate the Consumer Financial Protection Bureau are among his priorities.

Federal Reserve officials want to see how exactly new trade policies impact the U.S. economy before adjusting interest rates. Markets and monetarists have different ideas about what that might look like.

Last month, the OCC opened the door to national banks interested in engaging with digital assets. That's a good thing, but there is a real need for clear legislative and regulatory guidance so they can move forward safely.