Congress should pass legislation to better define “unfair, fraudulent or abusive acts or practices” to avoid abuse by future regulators and to fund the Consumer Financial Protection Bureau through congressional appropriations to make it more responsive to elected officials, Russell Vought, acting director of the CFPB, told House lawmakers today. He also said the bureau […]
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Economic activity rose at a mild to moderate pace in eleven of the Federal Reserve’s twelve districts in late May and into June, while one district reported no change, the Fed said in its fifth Beige Book report year. Financial conditions were stable across the board, with commercial and consumer lending growing modestly, the report […]
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The American Bankers Association today expressed support for the Federal Communications Commission’s draft proposal to strengthen the Robocall Mitigation Database, or RMD. in a letter sent in advance the FCC’s July 22 vote on the issuance of the proposal. RMD plays an important role in the FCC’s efforts to prevent criminals from making calls to […]
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The producer price index for final demand fell a seasonally adjusted 0.3% in June, according to a report from the US Bureau of Labor Statistics. Final demand increased by 0.6% in May and by 1.1% in April. On an unadjusted basis, the final demand index rose 5.5% in the 12 months to June 2026. The […]
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The White House announced a cybersecurity “clearing house” that would coordinate scanning for software vulnerabilities and distributing vulnerability patches. Last month, President Trump signed an executive order directing federal agencies to take steps to counter potential cybersecurity threats posed by artificial intelligence. The order also called for the creation of a clearing house. In a […]
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The Nominating Committee of the American Bankers Association today finalized the official list of officials to be nominated for election annual assembly of the association scheduled for Oct. 27 in Salt Lake City. The committee, chaired by John C. Asbury, chief executive officer, Atlantic Union Bankshares Corp., Richmond, Virginia, nominated the following candidates for the […]
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One of Chase Sapphire Reserve®‘s marquee benefits — and a key way to justify a hefty card 795 dollars annual fee — is his annual dining bill. NerdWallet rating NerdWallet ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or […]
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Wealth managers are entering a more competitive phase as client expectations rise and behaviors evolve, increasing pressure on firms to demonstrate clear value and strengthen relationships, he notes. EY Global Asset Management Report 2026. Among the highlights of the report: Highlighting the increasingly intense competition for client share of wallet, 45% of wealthy clients plan […]
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In a joint letter to Senate leaders, the American Bankers Association, the Independent Community Bankers of America and 76 state associations representing thousands of community financial institutions across the US expressed genuine concern about the Clarity Act and called for targeted changes to ensure greater certainty that stablecoins cannot function as a substitute for bank […]
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The business of banking relationships with athletes and athletic teams and related businesses continues to turn into vast and diverse opportunities (see recent related articles here, here and here). City National Bank, based in California, was a leader in the field. CNB’s Charles Frazier, senior vice president and head of the entertainment and sports banking […]
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