Policy & Regulation

Washington Federal Bank and Planet Home Lending are both off the hook for the remainder of their consent orders, which the bureau quietly terminated.

The Treasury Department's Financial Crimes Enforcement Network is seeking public comment on a survey of anti-money-laundering compliance costs from a variety of nonbanks, including casinos, insurers, lenders and other nonbanks, a possible precursor to deregulatory proposals down the road.

Seven filings were submitted in response to President Donald Trump's request for the Supreme Court to remove barriers from ousting Federal Reserve Gov. Lisa Cook before litigation proceeds. Most filings argued for the Court to deny the president's application.

Personal income, which rose $95.7B in August, was overtaken by consumer spending, which jumped $129.2B, pushing the saving rate to 4.6% amid steady inflation and higher wages.

Federal Reserve Governor Michael Barr warned that subjecting the stress testing models to the notice and comment process could lead them to "ossify."

Goldman Sachs Group Inc. President John Waldron criticized the growth of barriers to movement put up by countries around the world, amid rising concern among American firms about the Trump administration's decision to charge $100,000 for a key type of visa.

Federal Reserve Bank of Kansas City President Jeff Schmid said that the central bank should continue its focus on curbing inflation, as the job market is "largely in balance."

The embattled regulator has dropped more than half its Biden-era docket, including cases against Apple and U.S. Bank. But insiders at the bureau say that's just the beginning.

The American Bankers Association's Economic Advisory Committee expects the economy to grow, albeit at a slower pace than it previously anticipated. The group pointed to stubbornly high inflation and a weakening job market.

We don't need to reinvent banking to support cannabis. But we do need a clear, federally coordinated compliance framework tailored to the sector. That means establishing uniform standards.