Fed Chair Warsh pledges to cut forward guidance, confirms 2% inflation commitment in Jackson Hole speech
Kevin Warsh used his first Jackson Hole address as Fed Chair to signal a shift away from forward guidance while reaffirming the 2% inflation target.
Banking Dive · +1 outlets
OCC and FDIC finalize rule to tighten scrutiny of material financial risks at banks
The banking agencies issued a joint rule clarifying material financial risk standards, drawing criticism that the changes weaken supervision.
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Jes Staley testimony reveals he shared confidential JPMorgan information with Jeffrey Epstein in prison
Former JPMorgan executive Jes Staley's deposition in an Epstein-related case disclosed that he passed confidential info to the late financier while Epstein was
Banking Dive
ICBA CEO warns stablecoin bill creates deposit flight risk, sees no compromise on loophole
The Independent Community Bankers of America pushed to close a stablecoin loophole in the Clarity Act, citing rising deposit flight from lenient regulatory path
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VALT Bank receives FDIC approval for deposit insurance, plans Q4 opening
The Idaho-based digital business bank, which already holds a conditional OCC charter, cleared its final regulatory hurdle and aims to launch later this year.
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First Financial Indiana to acquire Hickory Point Bank and Trust for $111.3 million
The deal adds eight branches in central Illinois and pushes First Financial's assets to $6.9 billion.
Banking Dive
Renasant names KBW analyst Catherine Mealor as next CFO
Catherine Mealor will succeed retiring CFO Jim Mabry; the Mississippi bank plans to nominate Mabry for a board seat next year.
Banking Dive · +1 outlets