Fed finalizes annual stress test scenarios for large banks

Major tech platforms make billions of dollars from scammers who advertise on their sites, according to reporting from Reuters, and there’s not much incentive for them to change their practices — yet.

Treasury Secretary Scott Bessent reiterated the Trump administration’s push for regulatory tailoring during a sometimes contentious congressional hearing that touched on several issues, from stablecoin regulation to community development financial institutions.

The nonfarm private sector added 22,000 jobs in January, and annual pay was up 4.5% year-over-year, according to the ADP National Employment Report.

The ISM Services Index indicated expansion at 53.8% to start 2026 as it finished 2025, on a positive note. A value above 50 reflects expansion in the services sector while a value below 50 represents a contraction.

Two senators have introduced bipartisan legislation directing social media companies and other online media providers to take steps to fight fraudulent advertisements on their platforms. ABA supports the legislation.

Under the agreement, the Department of Homeland Security will receive less than two weeks of stopgap funding while lawmakers and the White House continue to negotiate policy changes involving Immigration and Customs Enforcement.