Risk

The order covers the European units of JPMorganChase, Goldman, Citi and Morgan Stanley, and previews what U.S. regulators may eventually demand.

The proposal calls for banks to make their compliance programs "risk-based" and pledges to emphasize "systemic" flaws with anti-money-laundering programs rather than "isolated" shortcomings.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday morning that she is working with other regulators around the world to emphasize innovation in the banking sector, including with artificial intelligence.

Federal Reserve Board Gov. Christopher Waller says he is OK with dialing down the amount of communication issued by the central bank's monetary policy committee, but doesn't want the central bank to throw out the baby with the bathwater.

Now that the code underlying payment systems can be rewritten faster than its reliability can be checked, banks and payments processors need to adopt new methods of verifying that changes are safe and stable.

The French bank was one of several international firms caught rigging foreign exchange markets in the late 2000s and early 2010s.

The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.

A bill setting national standards for earned wage access programs passed the House Financial Services Committee in a 29-22 vote.

Securities and Exchange Commission Chair Paul Atkins said tokenized bank deposits are likely to be a reality in 2027, and added that he is working with banking agencies on digital assets and capital requirements.

The Federal Deposit Insurance Corp. says executives "gambled" with depositor funds, while the former parent company argues regulators are using hindsight to second-guess what were reasonable business decisions at the time.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., said the National Credit Union Administration's efforts to roll back 31 rules without a board quorum could jeopardize the credit union system's stability and legitimacy.

Lisa Cook can keep her seat on the Federal Reserve Board thanks to the Supreme Court's procedural concerns. Deeper questions about the central bank might not come for years — if at all.

The Supreme Court found that President Donald Trump did not provide Lisa Cook requisite due process when he sought to remove her from the Fed last year, and for that reason denied the White House's motion to remove her immediately.

Banks and other companies are starting to face the true cost of buying AI services, and are already looking to cut corners.

JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.

House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.

U.S. banks have passed the Federal Reserve's stress tests with flying colors, again. It makes you wonder if the stress tests are actually stressful enough.

Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.

Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.