News
Reputational risk rule shows why subjectivity is so hard to ban
1+ week, 2+ day ago (972+ words) A recently finalized rule barring bank examiners from using reputational risk as the basis for a complaint to bank management includes exceptions that experts say show how difficult it is to distinguish cleanly between material and trivial risks " and how…...
NCUA moves to strip reputational risk from examinations
5+ mon, 4+ week ago (451+ words) The National Credit Union Administration is proposing a new rule that would eliminate reputational risk from its supervisory process and prohibit its examiners from encouraging or effectuating debanking based on religious or political views. The proposal says that the rule…...
To monitor an AI-driven economy, the Fed is going to need new tools
2+ mon, 1+ week ago (688+ words) Investors, policymakers, and CEOs all understand that artificial intelligence will soon have profound impacts on production, labor, and the economy as a whole. Not only will it affect how work is being done, but it will also affect where changes…...
Banks won't get serious about climate risk until GSEs make them
3+ day, 9+ hour ago (233+ words) A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill. At a minimum, the GSEs should incorporate forward-looking insurance costs more explicitly into underwriting. Mortgage…...
Banks are pretending not to notice a big problem with private credit
2+ day, 20+ hour ago (816+ words) The question about private credit that many people are asking right now is whether this is 2007 again. That's the wrong framing. The real question is what happens when the funds that banks have quietly financed for years face stress " and…...
Fed's Miran downplays inflation risks, rethinks rate cuts
3+ day, 10+ hour ago (592+ words) WASHINGTON " Federal Reserve Gov. Stephen Miran on Thursday downplayed the impact of tariffs and the Iran war on inflation, while acknowledging he is reconsidering his outlook for rate cuts this year." Miran, speaking at the Washington Economic Festival, said the…...
'AI is our friend': Bank CEOs play down risks from Mythos
4+ day, 1+ hour ago (890+ words) Bankers are continuing to embrace artificial intelligence as an imperative instrument in their toolboxes, even as they acknowledge that new AI models could heighten cybersecurity risks. On Wednesday, Morgan Stanley CEO Ted Pick laid out his case for AI, saying…...
Trump threatens to fire Fed Chair Powell if he doesn't resign
4+ day, 8+ hour ago (587+ words) President Donald Trump threatened to fire Federal Reserve Chair Jerome Powell if he remains at the central bank beyond the end of his term in May, escalating the president's yearslong conflict with the central bank. In an interview with Maria…...
AI is the perfect excuse to reintroduce money and morality
4+ day, 9+ hour ago (396+ words) Money and morals Okay, look, I'm going to get a little moralistic here, but it's not my fault. It's kind of the whole story. Chana's focus on morals shouldn't be surprising. He is a member of the Global Alliance for…...
Chase, Wells mortgage slump: what it means for non-banks
5+ day, 59+ min ago (637+ words) Quarter-to-quarter mortgage production at both JPMorgan Chase and Wells Fargo fell by about 2. 5 times more than what the Mortgage Bankers Association is predicting for the industry, a Keefe, Bruyette & Woods flash note commented. The MBA's March forecast called for $1. 46 trillion…...