Comptroller of the Currency Jonathan Gould said digital-asset firms applying for trust charters should be evaluated on the same basis as any other applicant, as charter requests rose to 14 this year. Gould signaled support for new trust banks, cautioned against using reputational risk as a factor in blocking entrants, and noted that regulators are preparing updates as the banking framework evolves "from the telegraph to the blockchain."

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A court filing on behalf of five former officials of the Federal Reserve argues that acting Consumer Financial Protection Bureau Director Russell Vought is obligated to ask the Fed for funding for the CFPB. Vought has cited an opinion from the Justice Department's Office of Legal Counsel in arguing that the Federal Reserve System is "unprofitable," but the former officials' filing rebuts that interpretation. Meanwhile, a lawsuit filed Friday alleges that three nonprofits will experience "imminent harm" if the CFPB receives no further funding.

A report by security firm Kasada says incidents of account takeover fraud increased by 250% last year, and FBI data shows more than 5,100 complaints of such fraud and $262 million in related losses since January 2025. Attackers are using more sophisticated methods such as impersonating bank employees and posting fake ads that redirect customers to phishing websites. The spike has placed significant operational and financial strain on banks, which must now invest more in customer support, incident management and fraud prevention to counteract the growing threat, experts say.

Consumer credit conditions worsened notably in the third quarter, with an American Financial Services Association survey finding a "net improving index" of negative 5.9%. Among survey respondents, 29.4% reported that overall loan performance worsened somewhat in Q3, although the six-month outlook was more positive, as lenders think the Federal Reserve is likely to reduce interest rates further.

Fifth Third Bancorp has increased its planned investment in branch expansion to $1.9 billion through 2029, a significant increase from the $225 million the lender initially planned in 2018. The move is driven by the planned acquisition of Comerica and targets Texas, Florida and the Carolinas. Fifth Third is seeking to optimize its footprint by "closing underperforming locations in legacy markets and reallocating resources to growth corridors," head of consumer banking Shawn Niehaus said.

JPMorgan CEO Jamie Dimon has formed a high-profile advisory council -- including Amazon founder Jeff Bezos, former Secretary of State Condoleezza Rice and former National Security Agency Director Paul Nakasone -- to guide the bank's $1.5 trillion "Security and Resiliency Initiative," aimed at strengthening US supply chains and critical technologies. Dimon also named Todd Combs to run a $10 billion investment fund within the effort, which focuses on national security priorities from rare earths to AI.

Top executives from Bank of America, Citigroup and Wells Fargo will reportedly meet senators Thursday to discuss pending crypto market-structure legislation, focusing on stablecoin interest payments, competitive concerns and illicit-finance safeguards. Bipartisan negotiators are nearing agreement on regulatory boundaries for crypto assets, though final Senate passage is no