Fannie, Freddie Transfer $60 Billion in Credit Risk Through Q2 2017

President Trump rescinded a 2023 executive order directing federal agencies to possibly draft new rules governing the use of AI and a 2021 order seeking more disclosure of financial risks linked to climate change.

Travis Hill will be acting FDIC chairman; David Lebryk will lead Treasury until Scott Bessent's confirmation.

Illinois regulators closed Pulaski Savings Bank of Chicago and appointed the FDIC as receiver. Millennium Bank of Des Plaines, Illinois, agreed to assume all deposits and most of its assets.

The FDIC sued 17 former executives and directors of Silicon Valley Bank, alleging their gross negligence led to the collapse of the institution.

The U.S. government will begin using “extraordinary measures” on Tuesday, Jan. 21, to avoid hitting the debt limit, outgoing Treasury Secretary Janet Yellen said today in a letter to House Speaker Mike Johnson.

This year could be a “banner year” for bank mergers and acquisitions, with improving economic conditions, enhanced net interest margins and the possibility of tax cuts, according to a recent analysis by the law firm Hunton Andrews Kurth.