“Trump’s Fed Aggression Poses New Legal Test of Presidential Power”
President Trump’s attempt to fire Fed Governor Lisa Cook has triggered a legal battle. On Thursday, Cook sued Trump, the Fed Board, and Chair Jerome Powell, arguing that Trump’s attempt to fire her violates her due process rights and threatens the central bank’s independence. Also be sure to review these four takeaways from last week’s Jackson Hole summit.
“Pulte Slashes Federal Home Loan Bank board Seats”
Amid the Cook dispute, the administration is also downsizing FHLB boards (especially in Democrat-leaning cities) as part of its effort to assert influence over financial institutions and test the limits of agency independence.
“There’s No Easy Button for Core Modernization, Only Smart Strategy”
PeoplesBank’s cloud-native core conversion shows that success comes when modernization is treated as a strategic initiative, not just a tech project. By testing innovations through its digital sidecar, reimagining processes, and aligning the core upgrade to long-term goals, the bank has driven growth and competitive differentiation.
“Outdated Fraud Defenses Are a Green Light for Scammers Everywhere”
Criminals innovate, too. Rising fraud losses show that traditional, reactive tools like alerts and card reissuance no longer suffice. To protect margins and win customers’ trust, banks should adopt machine learning and predictive analytics to stop fraud before it happens, this article says.
“FDIC: Capital One-Discover Deal Dents Q2 Bank Profit”
The FDIC latest Quarterly Banking Profile showed that bank profits declined in the second quarter as the Capital One–Discover merger drove provision expenses higher. However, loan growth, deposit levels, and insurance-fund reserves remained strong despite ongoing credit pressures.
“You Got the Account. But the Megabank Got the Wallet.”
Most banks don’t lack deposits, but many struggle to identify when customers are doing business with competitors. Clues lie in core transaction data, but institutions often miss them because they focus on new accounts and other metrics. By unlocking and acting on transaction data in real time, banks can retain key relationships and win back wallet share.
“CFPB Proposes Trimming Its Nonbank Purview”
The CFPB moved to narrow its definition of “risks to consumers,” making it less likely to place nonbanks under supervision. The agency says the change will yield consistency and clarity, while critics claim it’s part of Acting Director Russ Vought’s push to scale back oversight.
In Other News
Taylor Swift’s engagement is moving stocks and prediction markets, the Net Zero Banking Alliance is breaking up, and 95% of companies aren’t getting their desired returns on AI investments.