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The Fed should continue to play a key role in the new payments system, rather than leaving it in the hands of the country’s largest banks, Thomas Hoenig and Bruce Summers argue. ... Read full article

President Donald Trump said Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, is being vetted for a seat on the Federal Reserve Board. ... Read full article

Readers react to Sen. Elizabeth Warren's "too big to jail" bill, respond to legislation prohibiting banks from denying service to gun dealers, consider the impact of housing finance reform on small lenders and more. ... Read full article

He would be the second controversial pick by the president to join the central bank in the past few weeks; the JPM CEO said there are too many “onerous and unnecessary” rules. ... Read full article

The battle lines drawn over federal efforts to restrict bank relationships with politically risky industries used to be clear cut. Not anymore. ... Read full article

To generate revenue, SoLo Funds depends on consumers willing to front funds through its platform. ... Read full article

The CEO of the nation's largest bank urged policymakers to ease capital rules for banks and tackle inefficiencies in the housing markets, while offering bold ideas of his own on education and health care. ... Read full article

The administration official will serve a five-year term as Fannie Mae and Freddie Mac's chief regulator. ... Read full article

Shamir Karkal’s startup, Sila, is launching an API platform that gives developers a way to connect traditional bank systems to distributed ledgers like Ethereum. ... Read full article

A broad bill that amends the Controlled Substances Act to formally recognize state laws legalizing marijuana has the support of the financial services industry. ... Read full article

Jamie Dimon, in his 51-page annual letter to shareholders, warned investors to get ready for more wild rides like the one that upended markets at the end of last year. ... Read full article

Wells Fargo said holders of its student cards will see their costs decline by about half as its expands benefits after drawing scrutiny earlier this year for high fees on college campuses. ... Read full article

Publicly traded banks will have to book expected losses on loans starting next year; the jump in mortgage refinancings could be a mixed bag for banks. ... Read full article

Alliance Bank Central Texas may have found a way around National Credit Union Administration regulations that make it difficult for banks to buy credit unions. ... Read full article

The Earnin app appears designed to look like other early wage access programs, but critics say it’s actually a payday lender and New York regulators have taken notice. ... Read full article

Sens. Sherrod Brown, D-Ohio, and Ron Wyden, D-Ore., pressed Stephen Moore for details about reports that he owes more than $75,000 in taxes and failed to pay more than $300,000 in alimony and child support. ... Read full article

Hundreds of thousands of jobs have disappeared on Wall Street since the 2008 financial crisis and some of the biggest banks haven't stopped cutting. Still, some firms managed to reverse the trend and are slowly boosting staff levels. ... Read full article

After a brief delay, the agency’s acting director signed off on Fannie Mae and Freddie Mac contributing to the National Housing Trust Fund and Capital Magnet Fund. ... Read full article