Fresh Today

Fresh Today

WASHINGTON— Congress returned Monday from a two-week recess facing a jammed legislative calendar that includes efforts to address the partial shutdown affecting parts of the Department of Homeland Security, scrutiny of the White House’s FY2027 budget request and the possibility that those debates could quickly spill into a broader reconciliation fight that again puts the credit union tax exemption in the spotlight.

WASHINGTON—The American Bankers Association is urging NCUA to hit pause on its proposed rule implementing part of the GENIUS Act for payment stablecoins, arguing the agency should not finalize an application process for permitted payment stablecoin issuers before it has also proposed the far more substantive prudential standards that would govern capital, liquidity, risk management and supervision.

WASHINGTON—The Federal Reserve is asking major U.S. banks for details on their exposure to private credit as regulators take a closer look at whether mounting strain in the fast-growing sector could spill into the broader financial system, Reuters reported, citing a Bloomberg News report Friday.

WASHINGTON—The U.S. Department of the Treasury said Thursday it is opening a new cybersecurity information-sharing initiative for the digital asset sector, giving eligible U.S. crypto firms and industry groups access—at no cost—to the same actionable threat intelligence Treasury already shares with traditional financial institutions.