All posts tagged "Banking Industry"

President Donald Trump had a searing response Tuesday to the banking industry, saying that banks were trying to "undermine" controversial legislation he has touted.

Trump has pushed the Guiding and Establishing National Innovation for U.S. Stablecoins, also known as the GENIUS Act. The bill seeks to create a legal framework for stablecoins, or digital assets whose value is tied to a physical asset like fiat currency or gold. It has support from the crypto industry, which considers the bill an important step toward mainstreaming digital assets.

Trump attacked banks, calling them out and claiming that if the United States doesn't act quickly to pass the cryptocurrency bill, China would benefit and make America less competitive. ...

WASHINGTON (Reuters) - The U.S. banking industry continues to recover from the economic downturn and the 2007-2009 financial crisis, with profits rising over the past year, but the improvement can only continue if lending picks up, the Federal Deposit Insurance Corp said.