Fresh Today

WASHINGTON—The U.S. Supreme Court's recent decision strengthening presidential authority over independent federal agencies has fundamentally changed the debate over reforming the Consumer Financial Protection Bureau (CFPB), according to a new analysis from the Cato Institute. Rather than continuing to push for replacing the bureau's single-director structure with a bipartisan commission, Congress should instead focus on limiting the agency's powers, changing its funding structure and tightening statutory guardrails, the report argues.

WASHINGTON—The Independent Community Bankers of America is renewing its longstanding call for Congress and the Treasury Department to require federal credit unions to file IRS Form 990 information returns, arguing the alleged $95-million embezzlement at Jackson Area FCU demonstrates the need for greater transparency at tax-exempt institutions.

WASHINGTON—U.S. employers added just 57,000 jobs in June, well below economists' expectations of approximately 110,000, signaling a significant cooling in the labor market even as the unemployment rate edged down to 4.2% from 4.3%.

TAMPA– Velera announced the appointment of three new associate directors to its board of directors. 

TALLAHASSEE, Fla.— Florida Attorney General James Uthmeier has opened an antitrust investigation into Fair Isaac Corp. (FICO), alleging the company may have abused its dominant position in the credit-scoring market by raising prices, suppressing competition and increasing borrowing costs for consumers. The attorney general's office issued a Civil Investigative Demand requiring the company to produce documents related to its business practices and market conduct, WTVX reported.

SAN FRANCISCO—An FDIC banking expert told a federal judge Wednesday that Silicon Valley Bank's leadership ignored basic principles of prudent banking, testifying that executives knowingly allowed the bank to take excessive interest-rate and liquidity risks that ultimately led to its historic 2023 collapse, Law360 reported.

WASHINGTON--Credit union-supported candidates won seven of eight primary races in Colorado Tuesday, with Rep. Diana DeGette (D) falling in her primary to represent the 1st Congressional District, America's Credit Unions reported.

WASHINGTON--With Trump Accounts set to officially launch July 4, America’s Credit Unions updated its frequently asked questions document to clarify the role of credit unions now and in the future.