Trump

The White House issued an executive order Tuesday requesting that the Federal Reserve review access to payment accounts for fintechs and digital asset firms.

The White House issued an executive order Tuesday directing the Treasury department, bank regulators and the Consumer Financial Protection Bureau to advise banks on "red flags" of informal work arrangements. How agencies implement the order will determine how onerous compliance will ultimately be for banks.

The Treasury Department's General Counsel Brian Morrissey resigned his post as controversy grew over a Department of Justice settlement creating a fund to compensate for alleged victims of prosecution by the Biden administration.

A White House official said that the president will swear in Kevin Warsh, who was confirmed as the next chair of the Federal Reserve last week, in a ceremony Friday. Fed Chair Jerome Powell will serve as chair pro tempore until that time.

The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.

The payment company will waive transaction fees totaling about $30 million for veteran-owned, farming, manufacturing or technology-based small businesses following an investigation into a 6-year-old former investment program designed for Black and minority-owned small businesses.

President Donald Trump has tapped Treasury official John Crews to be the next chair of the National Credit Union Administration.

Market watchers say that the economy as a whole is holding up under higher energy prices and do not expect a recession. Even so, observers are watching financial markets and consumer spending for signs that inflation expectations are taking hold.

CEO Robin Vince defended the custody bank's use of artificial intelligence Monday, saying that the deployment of AI allows firms to increase their investment capacity.

Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.