Jagdeep Dayal

Regulators set the agenda this week: the Fed detailed how it will police stablecoins and signaled lighter supervision thresholds for large banks, the OCC chartered its first credit-card bank in two decades, and California shuttered the sixth U.S. bank to fail in 2026. In the market, a Visa- and Stripe-backed consortium launched a fee-killing dollar stablecoin, Swift and FedNow pushed instant payments across borders, mortgage rates hit a three-year high, and consumer credit held broadly steady.