Politics

The top executives at some of the nation's largest banks spoke Tuesday about their expectations for the second Trump administration. Deregulation, capital rules, tariffs and inflation were all prominent topics.

Allegations of regulators pressuring banks to drop clients and customers because of political views or ties to legal-but-disfavored industries have sparked outrage among conservatives. But requiring banks to serve absolutely everyone would change the nature of banking in ways that aren't conservative.

A new question field on the Consumer Financial Protection Bureau's consumer complaint form is tied to an advisory opinion on customer service related to customers' requests for information, industry experts say.

Americans for Financial Reform wants investigations into the directors and executives of Silicon Valley Bank, Signature Bank and First Republic Bank released before the Jan. 20 inauguration.

The chairman of the Federal Reserve presided over the worst inflation in 40 years, generating public outrage that paved the way for Donald Trump's victory in last month's election.

The industry hopes that the bigger hurdles to bank mergers under President Biden will fade in the new administration. But populist opposition to consolidation in the tech sector could spill over into banking.

The Consumer Financial Protection Bureau said that, although the Google Pay app has been discontinued, the bureau can make the determination based on past behavior, and that the tech giant could decide to reenter the person-to-person payment space.

Unity Bank in Clinton, NJ, now offers EV charging stations in a collaboration with Encore Energy Group; fintech Beneficient announced its agreement to acquire Puerto Rico-based Mercantile Bank; Trump named payments exec Jared Isaacman to run NASA; and more in this week's banking news roundup.

Federal Reserve Gov. Michelle Bowman said Friday that regulators — chief among them the Fed itself — need to do more to combat check fraud, particularly the problem of smaller banks not being reimbursed by larger banks whose checks are altered.

After hurricanes and strikes stalled job growth in October, the economy added 227,000 jobs in November.

Telcoin is seeking to become the first chartered bank under Nebraska's Digital Asset Depository Institutions regime. Its CEO believes it can become a regulated bridge between crypto and banking.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

The Consumer Financial Protection Bureau is giving the funds to more than 4.3 million consumers harmed by a defunct credit-repair conglomerate, the largest-ever distribution from the bureau's victim-relief fund.

Under the Biden administration, a trio of regulatory agencies have teamed up to limit consumers' access to credit. The incoming administration should force them to stand down.

Paul Atkins, a noted critic of the Consumer Financial Protection Bureau, will join the Financial Stability Oversight Council, where he will play a role in shaping housing policy.

The Federal Reserve chair is not concerned about President-elect Trump nominating his successor well in advance of the end of his term in 2026, saying he is "confident" he will have a productive relationship with the next Treasury Secretary.

Rep. French Hill, R-Ark. — one of the leading contenders to chair the House Financial Services Committee next year — focused on 'debanking' of crypto and other companies in his questions to the witnesses.

Federal Reserve Gov. Adriana Kugler credited immigration and rising productivity for the U.S. economy's resilience while emphasizing vigilance against risks to inflation and employment stability.

President-elect Trump's embrace of cryptocurrency and decentralized finance is a political gambit that has already paid off. But greenlighting crypto's intermingling with traditional finance would create an asset bubble that would be especially painful to pop.

The Consumer Financial Protection Bureau issued a proposal to protect consumer data privacy and categorize data brokers that sell sensitive consumer data as "consumer reporting agencies" under the Fair Credit Reporting Act, a move that could garner bipartisan support.