“Trump Cancels Signing of Major Housing Bill”
President Trump canceled the planned signing ceremony for the bipartisan housing bill, saying he would withhold his signature unless Congress first passes the SAVE America Act. The housing bill—which includes several community banking reforms, including landmark legislation on reciprocal deposit—can still become law if the President neither signs nor vetoes it within 10 days (excluding Sundays) after it is formally presented to him, provided Congress remains in session.
“AI That Protects and Performs for Community Bankers”
Community banks looking to adopt AI should focus on building strong data governance and risk management before expanding its use, according to this article. It goes on to explain what bank leaders should ask AI vendors about data security, compliance, and long-term costs.
“Why the ‘Family CFO’ Will Define the Future of Community Banking”
More people are managing finances for both children and aging parents, creating an opportunity for banks to serve these customers with tools and support for family financial management, this article says. It offers suggestions for how to do just that.
The Wall Street Journal offers a strong, detailed obituary of Alan Greenspan, tracing his rise from data-obsessed forecaster to one of the most powerful Fed chairs in history. Once celebrated for steering the economy through years of growth and market shocks, his faith in self-policing financial markets was later seen as a major blind spot after the 2008 financial crisis—the central tension of his legacy.
“The Trump Official Trying to Cut a Crypto Deal That Could Crack Down on Trump”
White House crypto adviser Patrick Witt is leading negotiations with Senate Democrats over ethics provisions in the Clarity Act. Democrats want new restrictions on public officials’ crypto activities, including the Trump family’s businesses, making the ethics language a key hurdle as lawmakers work to pass the bill before Congress’s August recess.
“GOP Senator Slams Banks Over Deposit Posting”
Sen. Bernie Moreno, R-OH, urged banks to post customer deposits before withdrawals during a Senate Banking Committee hearing Tuesday, arguing their current practices trigger overdraft fees and warning Congress could step in if banks don't change them. Overall, the hearing renewed the debate over overdraft fees, with Democrats claiming they burden consumers and Republicans divided over whether the issue stems from bank practices or financial literacy.
“OCC Preemption Moves Could Be Headed for Supreme Court”
The OCC’s recent rulings blocking state laws on issues such as interchange fees and mortgage escrow accounts from applying to national banks are facing legal challenges over whether they exceed the authority Congress gave the agency under the Dodd-Frank Act. The issue could return to the Supreme Court as more states adopt laws affecting national banks.
In Other News
Investigators found evidence Iran used a crypto exchange to move billions of dollars despite U.S. sanctions, the U.S. has sent rescue teams to Venezuela after two powerful earthquakes, and be sure to check out these 250 American songs ahead