Policy & Regulation

Observers said the Supreme Court likely will allow Federal Reserve Gov. Lisa Cook to remain at her post while she challenges her purported removal by President Donald Trump. But her continued presence would slow, rather than stop, the president's quest for a voting majority on the central bank board.

The lawsuit, filed Thursday in Florida state court, alleges that the lender stopped offering banking services to Donald Trump and his businesses for political reasons.

The Federal Deposit Insurance Corp. Thursday finalized a framework for banks to appeal supervisory determinations, replacing the agency's existing appeal committee with an independent three-member panel, one member of which must have industry experience.

The collapse of the illicit escrow marketplace disrupts a major hub for "pig butchering" scams, though experts warn the ecosystem will likely fragment.

The Supreme Court Wednesday appeared skeptical of the Justice Department's argument that removal of a Federal Reserve governor is unreviewable or that the president's preference for Fed governors outweighs the harm to the Fed from curbing the central bank's political independence.

Efforts to exclude crypto firms from the provision of a number of different core financial services are doomed to fail. The only correct response is to provide the prudential regulation necessary to assure safe and sound operation.

Comptroller of the Currency Jonathan Gould said Friday afternoon that regulators should scale back what he characterized as costly and ineffective bank-prepared resolution plans and shifting resolution responsibility onto bank regulators. 

Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.

Bilt's new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.

A handful of former Fed officials noted that the markets' measured response to a probe into Fed Chair Jerome Powell was a result of pushback from Trump allies.