President Trump and Ukrainian President Volodymyr Zelenskyy are expected to cut a minerals deal, inflation is heating up, and legendary actor Gene Hackman, his wife, and his dog were found dead in a New Mexico home. Here's what else you might want to read this week:
"'Crisis of Legitimacy': Democrats Seek Clarity on CFPB Fate"
Senate Banking Committee Democrats pressed Jonathan McKernan during his confirmation hearing yesterday on the future of the CFPB, accusing President Trump and Elon Musk of trying to shutter the agency. McKernan said the CFPB had been politicized and exceeded the limits of its statutory authority, but that it would indeed live on and that he aimed to "fully and faithfully" execute the law if confirmed. His position was supported by a legal brief filed by the DOJ earlier in the week, in which it wrote that the agency would continue to exist under Trump, albeit with fewer employees and a smaller budget. McKernan's performance was solid, and though it's unclear if he will win Democratic votes, he seems highly likely to be confirmed.
"ICBA Statement Opposing Consolidation of the Nation's Banking Regulators"
ICBA President and CEO Rebeca Romero Rainey issued a statement on Wednesday highlighting the importance of banking agencies' independence and warning the Trump administration against consolidating regulatory and supervisory functions. This is critically important, as to date the banking industry had been silent amid reports that the administration wanted to force an OCC-FDIC merger administratively. Amid blowback to this idea, there are already signs the administration is backing away.
To hear more about the administration's plans to consolidate agencies and the potential impact on community banks, check out our most recent episode of Banking with Interest featuring Evan Weinberger, a banking correspondent at Bloomberg Law.
"How Big of a Problem Is Debanking? No One Knows for Sure"
One problem with these types of headlines is they discourage the reader from actually, you know, reading the article. If nobody knows for sure, why do you need to read further? But this is a solid story worth your time. It digs into why it's so hard to know if debanking is really happening.
"The Stakes for Bankers in the 2025 Tax Fight"
A long, hard tax battle is looming in Washington, and with populism on the rise, banks may not fare as well as they did with the 2017 tax law. Read how banks could win or lose this time around.
"Rethinking Bank ALM as a Strategic Decision"
Asset/liability management is typically considered a risk mitigation function, but leading ALCOs assign equal importance to margin expansion and risk. Learn how community banks can improve their performance by rethinking ALM's role and adopting real-time, AI-powered analytics.
"Lending Will Accelerate in 2025 as Consumers Get Used to Today's Interest Rates"
Consumers are concerned about borrowing because of high interest rates, but they'll get used to them eventually, TransUnion predicts. One area where loan growth has already picked up is unsecured personal credit, which should remain strong in the months to come.
"7 Fintech and Payments Trends That Will Reshape Retail Banking in 2025"
From intensifying digital wallet competition to regtech innovation to the impact of behavioral biometrics, learn which developments are top of mind for payments leaders this year.
"Lender Groups Want SBA to Increase Fees, Tighten Underwriting Rules"
Bank groups are nervous about the financial condition of the SBA's 7(a) lending program amid a rise in troubled loans and a decline in fee income, and they're calling for corrective measures.
"How the Role of the Branch is Being Reimagined"
Banks are redesigning the interiors of their branches and changing the roles of branch employees to better serve customers.
"Banking Regulators Vary in Response to Work-Justification Email"
Different bank regulators responded in different ways to a justify-your-existence email sent by the Office of Personnel Management over the weekend, indicating it caught them off-guard. The FDIC and OCC told staff to wait for guidance before responding to it, while the CFPB instructed employees to remind the OPM it is under a stop-work order.
"BNY, America's Oldest Bank, Signs Multiyear Deal With OpenAI"
While the terms of the deal weren't disclosed, BNY said it will use OpenAI's reasoning models and other advanced tools to power its internal AI platform. In exchange, OpenAI said it will learn how well its models perform complex, real-world tasks.
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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