“Federal Regulators Ramp Up Response to White House Action on Debanking”
In recent guidance, the OCC said it would weigh banks’ policies and their record on avoiding debanking in licensing decisions and CRA evaluations. It emphasized that banks should document clear, risk-based reasons for account closures rather than relying on vague references to “reputational risk.”
“Tech-Focused Erebor Bank Gets Conditional OCC Approval”
Speaking of the OCC, in roughly four months, the agency conditionally approved the de novo charter for Erebor Bank, a new institution targeting clients in crypto, AI, defense, and manufacturing. The move signals a faster timeline on new charters under Comptroller Jonathan Gould and a friendlier, more predictable path for applicants.
“The Nation’s Biggest Banks Are Saying the Economy Is Still Strong”
Big banks have reported solid third-quarter profits, steady consumer spending, and stable deposits despite risks in credit and concerns over inflation and policy uncertainty.
“How Banks Can Upgrade Checking Accounts”
A FinHealth Network review of 20 banks and credit unions found that only four checking accounts met even half of its financial-health benchmarks, with shortfalls in features, policies, and onboarding. By simplifying fees and adding overdraft safeguards, among other simple changes, banks can better meet the needs of modern consumers, this article says.
“Citi’s Fintech Chief: Why ‘Self-Driving Money’ Is the Next Revolution”
Citi’s Ronit Ghose argues that AI and stablecoins will soon automate routine money movement—think bills, savings, and FX running in the background—while the “economic center of gravity” shifts toward Asia and the Arabian Gulf region.
“Crypto Use Trending Down, Says Kansas City Fed”
But is the shift to crypto and digital assets overhyped? A recent Kansas City Fed survey found that just 1.9% of U.S. consumers used crypto for payments in 2024 (which is down from 2.7% in 2022), and that merchant preference, not consumer demand, often drives usage.
“How the End of the Safe Deposit Box Is a Signal for Banking’s Future”
The quiet phase-out of safe deposit boxes reflects a broader shift from physical storage to digital “peace-of-mind” services. Branch strategies can adapt by offering guided digital safekeeping that reinforces loyalty and intergenerational ties, according to one expert.
In Other News
Chinese criminal gangs have netted more than $1 billion from URL-text scams, the U.S. shutdown dragged on with no clear path to a deal, and a viral story by the New York Post has a mom insisting her “huge baby” photos aren’t AI-generated.