Politics

The megabank is also updating certain policies to bar discrimination based on political affiliation. "We appreciate the concerns that are being raised regarding 'fair access' to banking services," a Citigroup executive wrote in an internal memo.

Acting Comptroller of the Currency Rodney Hood signals rollback of key safeguards like the supplemental leverage ratio, aligning with administration's push to ease bank capital demands and spur credit.

Fischer, who served on the central bank boards of both Israel and the United States and served as the Federal Reserve vice chair from 2014 until 2017, died Saturday at age 81.

The GENIUS Act, in its current form, fails to account for the substantial risk of stablecoin runs and blocks regulators from imposing necessary oversight. It also lacks measures to prevent their use in illicit transactions.

Federal Reserve Gov. Christopher Waller said changes to the Federal Open Market Committee's quarterly economic projections could lead to clearer communication with markets and market participants.

The Consumer Financial Protection Bureau and Bank Policy Institute filed twin motions for summary judgement to strike down a 2024 agency rule for being arbitrary and capricious and exceeding statutory authority.

A new stablecoin bill threatens to balloon federal borrowing and increase the deficit, while a change to bank capital rules would vest the Treasury with power that should rest with the Federal Reserve.

The request for information was issued as part of an executive order aimed at eliminating paper checks as a form of federal payment in most cases, which the administration says aims to curb fraud, modernize disbursements.

The Federal Reserve's preferred measure of inflation moved closer to the 2% target last month, but the impact of tariffs remains to be seen.

The megabank, which has spent years trying to improve its regulatory compliance, now has just one consent order remaining. And observers expect that Wells' historic asset cap will be lifted soon.

The Federal Reserve chair said he made no commitments on the central bank's next monetary policy adjustment, only that the decision would be made based on incoming data.

Elon Musk, formerly head of the Department of Government Efficiency, said he will officially leave the federal government after a short but tumultuous tenure. DOGE's actions at the Consumer Financial Protection Bureau are being reviewed in federal court.

In a letter to the Office of the Comptroller of the Currency, the American Bankers Association rebuffed state regulators' calls to rescind the agency's broad state preemption rule, defending federal law's supremacy in the dual banking system.

The Trump administration's plan to shift $1.6 trillion in student loans could include a sale to a private buyer. If that's the case, any potential purchaser has some serious due diligence to undertake.

Analysts awaiting specifics on the "implicit guarantee" for Fannie Mae and Freddie Mac are split on whether mortgage rates and guarantee fees could rise.

What if the guiding narrative of 2,000 years of human history was a slow march toward the worship of money? A new book by Paul Vigna argues that we could fix this problem if we declared an old-fashioned jubilee and simply erased all debts.

Banks sued the Consumer Financial Protection Bureau last year to stop the 1033 open banking rule from taking effect. Now the Trump administration plans to kill the rule.

During its meeting last month, some members of the Federal Reserve's monetary policy committee expressed concern about persistent supply chain disruptions while others were confident price growth would be constrained.

The quarterly data showed bank profits were driven by gains at large firms while credit quality remained mixed, with commercial real estate loan stress at relatively high levels.

The Treasury Department is claiming extensive authority to pry into the private financial information of Americans on the flimsiest of pretexts. It's time for the courts to step in.