US District Judge Danny Reeves paused enforcement of the Consumer Financial Protection Bureau's personal financial data rights rule, giving the Trump administration more time to draft its own version of the regulation. The order suspends upcoming compliance deadlines while the CFPB reevaluates the rule's provisions on data-sharing fees and consumer rights.

The rise of agentic commerce is prompting banks and payments firms to address questions about liability that could arise when AI-powered shopping agents make mistakes. Banks are seeking clarity on the issue and are working to develop the infrastructure to resolve any such errors that might occur, industry leaders said at a conference this week. PayPal Holdings is trying to position itself at the forefront of agentic commerce, partnering with OpenAI and launching tools designed to help merchants adapt to agentic AI.

Treasury yields surged after Federal Reserve Chair Jerome Powell said a December rate cut was not to be counted on despite a reduction in the benchmark rate to 3.75% to 4% this week. Powell's comments led traders to revise expectations for future rate cuts, causing a significant sell-off in the bond market. The Fed also announced the end of its balance sheet reduction program, further influencing market dynamics.

The Federal Reserve announced it will end its balance sheet runoff on Dec. 1, shifting from reducing its Treasury holdings to maintaining their current level by rolling over maturing securities. This marks an earlier-than-expected conclusion to quantitative tightening, as the Fed has observed signs of decreasing liquidity and declining reserve levels in money markets.

Citi is focusing on employee engagement to drive its AI strategy, with 180,000 of its 230,000 employees now using AI tools, said Tim Ryan, the bank's head of technology and business enablement. Ryan attributes the bank's AI momentum to employees' willingness to embrace and implement new strategies, and he said the approach leads to an "innovation dividend," with employees identifying fresh opportunities for efficiency and growth.

A growing number of fintechs, cryptocurrency-focused firms and even some nonfinancial corporations are racing to secure US bank charters amid what many view as a business-friendly regulatory climate under the Trump administration. Such licenses provide deposit protection and can lead to increased capital access, but they also bring heightened oversight and potential valuation risks. Consumers could benefit from more competition and insured deposits as a result of the trend, but regulators face mounting pressure to manage inexperienced new entrants and safeguard financial stability.

Federal Reserve Governor Christopher Waller recently suggested the concept of "skinny" master accounts that would give cryptocurrency firms and fintechs limited, direct access to payment systems such as Fedwire and FedNow -- a move that could be a breakthrough for digital asset innovation but also could disrupt banking-as-a-service models. Supporters see the proposal as modernizing payments infrastructure, while critics warn it could favor lightly regulated trust banks and undercut community banks reliant on payment partnerships.

Bipartisan negotiations to end the 30-day government shutdown are showing signs of renewed momentum, with Senate Majority Leader John Thune, R-S.D., indicating he expects to engage with Senate Democrats soon. While formal leadership-level talks between Thune and Senate Minority Leader Chuck Schumer, R-N.Y., have not occurred, informal discussions among rank-and-file members are intensifying as critical deadlines approach, including the looming cutoff of Supplemental Nutrition Assistance Program benefits.