Politics

Federal Reserve Gov. Michael Barr said in a speech Tuesday that rapidly changing trade policies and conflict in the Middle East are straining rural communities by raising business operating costs.

Kevin Warsh's financial disclosures show significant wealth, likely well-over $100 million, beyond that of even Federal Reserve Chairman Jerome Powell, who came from the private equity world.

The Consumer Financial Protection Bureau, which has dismissed scores of enforcement attorneys early in President Donald Trump's second term, is staffing up its litigation arm in anticipation of defending its rules in court.

The president of an affiliate mortgage securitization guarantor is taking on the responsibilities associated with the Federal Housing Administration role.

Bills in Congress, capital rules, GSE reform and credit modernization hold a mix of benefits and risks for Independent Community Banker of America members, Senior Vice President Ron Haynie says.

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

For advisors like Chris Diodato of WELLth Financial Planning, everything from insurance to industry software is costing more these days.

The White House Office of Management and Budget will issue paperwork allowing the Treasury Department to disburse congressionally appropriated funds through the Community Development Financial Institutions Fund, breaking an impasse that has stalled funding for months.

A trade group representing debt collection agencies alleges that the Golden State is charging unlawfully high licensing fees in an effort to fund an inflated budget. California regulators declined to comment on the suit.

A rule banning bank examiners from using reputational risk in their examinations includes an exception for operational risks — another notoriously unquantifiable category of risk. Experts say the concession suggests the attempt to carve subjectivity out of bank examination may amount to a relabeling exercise.

A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.

A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.

A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.

Federal Reserve Vice Chair Philip Jefferson said in a speech Tuesday that despite positive employment readings in recent months, he remains concerned that an economic shock could still threaten the labor market.

Swiss banking giant UBS tried to get a federal court to reject new allegations that Credit Suisse, which UBS acquired in 2023, had concealed Nazi-linked assets.

Jamie Dimon said the revised Basel III plan still overstates risk and penalizes the largest banks.

The investment bank is the target of a campaign by Color of Change, a racial-justice advocacy group that's accusing Goldman of retreating from its diversity commitments.

The White House's proposed 2027 budget would slash funding to the Community Development Financial Institutions Fund, the latest in an ongoing campaign from the Trump administration to dismantle the politically popular program.

The partnership between the long-established bank and the fintech brokerage will handle the development of the government-owned account platform behind the new government-seeded retirement accounts for children. 

EWA programs benefit workers across the country, making it more likely that they will be able to avoid high-cost credit products like payday loans. Efforts to restrict them will harm consumers.