President Trump announced a fresh 25% tariff on imported cars, here's everything you need to know about the "Signalgate" controversy, and which of the 21 most beautiful places of the world have you visited? Here's what else you might want to read this week:
"Republicans Air CFPB Grievances, Jockey for Changes at Agency"
Republican lawmakers blasted the CFPB during a Wednesday hearing, with Rep. Andy Barr, R-KY, calling the agency an "Orwellian predator" and claiming that "nowhere has overregulation and overreach been more evident." Republican members also called for a number of reforms, including turning the agency into a five-person bipartisan commission with a requirement that at least two of its members have private-sector experience.
Aside from the hearing, the CFPB continues to face an existential crisis, with the Trump administration and DOGE pushing to dismantle significant parts of the agency. For the latest on these developments, check out our most recent episode of Banking with Interest featuring reporter Ryan Tracy, who covers financial regulation and banking for Capitol Account.
"2025 Risk Survey: Cybersecurity, Fraud at the Forefront"
Eighty-four percent of respondents to Bank Director's annual risk survey cited cybersecurity as a top threat to their institution, and 69% percent said the same of fraud. Additionally, 94% claimed their institution or customers had been affected by check fraud in the past 18 months.
"FDIC 'Plans to Eradicate' Focus on Reputational Risk"
The FDIC will no longer consider reputational risk in its bank supervision, and it will pursue a "new direction on digital assets policy," acting Chair Travis Hill wrote in a letter to Rep. Dan Meuser, R-PA. It's the second agency to abandon the concept amid the Trump administration's crackdown on debanking; last week, the OCC said it would stop assessing reputational risk in its bank exams.
"How a New Kind of Bank Account Incentivizes Families to Fight Fraud"
A community bank in Texas launched a new type of savings account that empowers parents to combat fraud targeting their children, while helping children build credit at the same time.
"CFPB Plans to Revoke Buy Now, Pay Later Rule Fintechs Fought"
A new court filing revealed that the CFPB aims to revoke an interpretative rule extending credit card protections to BNPL products. Critics claimed the rule inappropriately applied credit card regulations to zero-interest BNPL loans, and last October, the Financial Technology Association had sued the agency to block it.
Meanwhile, a DoorDash-Klarna deal that would enable people to "eat now, pay later" has left many analysts concerned about the rising level of consumer debt in the economy.
"Why Banks Aren't Happy with Their Core Tech Providers"
To clarify, banks are happier with their core providers than they were three years ago, but not by much, according to a recent survey by the American Bankers Association. Moreover, satisfaction scores were higher in 2020 than they are today, and gaps are widening between certain providers.
"OCC to Explore Alternative Credit Metrics"
Acting Comptroller Rodney Hood said the agency would evaluate how banks can use financial technology and criteria other than credit scoring to evaluate borrowers' ability to repay loans.
"Banks Face Fewer Proxy Battles in New Political Climate"
Deregulatory moves under the Trump administration, coupled with concerns about political fallout, have led to a significant decline in shareholder proposals on bank proxy statements, American Banker reported.
"Treasury to Phase Out Issuing, Receiving Paper Checks"
President Trump signed a new executive order directing all government agencies to stop using paper checks for fund transfers and switch to digital payments by Sept. 30. The administration said the move would reduce inefficiencies, cut costs, and help prevent fraud.
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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