“In Congress, Bank Regulators Defend Trump Agenda”
Leaders of the Fed, FDIC, and OCC made a joint appearance in Congress for the first time this year, reiterating plans to ease rules on M&A and de novo banks while cracking down on debanking. House Financial Services Committee Chair French Hill, R-AK, asked acting FDIC Chair Travis Hill whether expanding deposit insurance would result in banks paying higher premiums. Hill replied that if coverage increases without other changes, “revenue coming into the DIF would have to increase.”
“Trump’s Aides Cancel Fed Chair Interviews as President Homes In On Pick”
National Economic Council Director Kevin Hassett has emerged as President Trump’s pick for Fed chair.
“How Private Credit Could Test the Trump Administration”
Nonbank lenders are on a roll and seeking to expand, testing the Trump administration’s appetite for light-touch oversight.
“The Urgent Leadership Playbook for AI Transformation”
AI could slash banks’ costs by up to 40%, according to new research from the Boston Consulting Group, which contends that rising costs and falling revenue require banks to seek the efficiencies AI offers. The report outlines six areas where banks must adapt to fully capture AI-driven efficiencies.
“Senate Democrats Press Credit Unions on Overdraft, NSF Fees”
Three Senate Democrats gave 21 credit unions until Dec. 14 to defend what they call “predatory” overdraft and nonsufficient funds fees.
“The Future of Payment Infrastructure Could Be Permissionless”
A New York Fed economist argues that stablecoins’ “permissionless” settlement model—combined with rising market cap and soaring transaction volume—may give them an advantage over other real-time payments systems.
“The Best Community Banks to Work For 2025”
ICBA’s Independent Banker profiles of five banks across different asset-size categories are packed with great ideas for employee retention. Scroll to the end for detailed charts on which perks bank employees value most.
In Other News
If you love music, check out Spotify’s wrap up of this year’s trends, the La Nina winter has arrived, and holiday shopping is off to a great start.
Thanks for reading.