Troubled Texas bank gets another wrist-slap from regulators
Industry Bancshares has been bogged down for years with unrealized losses. The Federal Reserve issued a cease-and-desist order against the firm, following similar actions by other agencies.
Bessent to be Treasury nominee, Trump taps Turner for HUD
Hedge fund manager Scott Bessent had been the betting favorite to take the reins at Treasury. Scott Turner, a former congressman and NFL player, will lead the housing agency.
Trump picks NFL veteran Scott Turner to lead HUD
Turner served as executive director of the White House Opportunity and Revitalization Council previously.
Fed’s Bowman: Regulators ‘must have an openness’ to AI
While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind toward the technology and avoid reflexive risk aversion in bank supervision, Federal Reserve Gov. Michelle Bowman said.