A federal judge on Tuesday granted a last minute motion by the Consumer Financial Protection Bureau (CFPB) to stay the court battle over the legality of the agency’s “open banking” rule, while it rewrites it in a way that “aligns with the policy preferences of the new leadership.” The regulations, designed to give consumers greater control over their own financial data, were finalized last October under the Biden Administration, and scheduled to take effect on a staggered basis next year. The Biden-era rule allows customers to access and share financial information connected to their bank accounts, credit cards, payment apps…

Americans have more debt than they’ve ever had, making them vulnerable to defaulting on their loans if the economy turns south. New financial results from credit card issuer Synchrony show that U.S. borrowers are holding up fine, but if inflation rises sharply again, all bets are off. Synchrony is a Stamford, Connecticut-based bank that offers co-branded credit cards and point-of-sale loans for customers like Sam’s Club, Lowe’s and PayPal. One in every four American adults has a Synchrony card, the company says, so its financial performance gives us an inside look into consumers’ financial health. The bank manages a book…

JPMorgan Chase, the biggest bank in America, has been angry for years about being forced to hand over customer data to fintech companies for free. Now its billionaire CEO Jamie Dimon seems to be capitalizing on a moment of deregulation to slap fintechs with new fees, and the coming negotiations will determine how much damage the behemoth inflicts on their businesses. The bank’s aggressive move is a big escalation in the ongoing battle between financial services incumbents and challenger fintechs. Since the start of the fintech industry, upstarts have needed access to consumers’ bank data to perform basic functions like…

Name: Jayshree Patel Firm: New York Life Location: Lincolnwood, IL Total Value of Policies: $6.4 billion Background: Jayshree Patel grew up in a small village in India with her widowed mother and four sisters, facing early hardships after her father passed away. She moved to the U.S. in 1993 after college and joined New York Life in 1997, building her career initially around life insurance—the foundation of financial planning. Over the years, her practice expanded to serve multiple generations, adding retirement planning, estate strategies, and long-term care. Today, she runs a $6 billion assets firm with her husband and two…

Name: Chelsea Maeda Firm: Winged Keel Group Location: New York, NY Total Value of Policies: $105 Billion Background: Chelsea Maeda was born and raised in Hawaii, the youngest of three children. After attending Columbia University, where she studied statistics and music, she interned at Winged Keel and joined the firm full-time in 2008. “I never expected to end up on the sales side,” she says. “But I saw the impact we were having and wanted to stay.” She rotated through analytics and design roles before moving into a client-facing position in 2012. In 2020, she became a principal and joined…

Name: Joshua Waite Firm: Waite Financial Group / Northwestern Mutual Location: Peoria, IL Total Value of Policies: $1.1 billion Background: Joshua Waite grew up in a small farming town outside Peoria, Illinois—just a mile from the family farm where his grandfather, one of his childhood heroes, helped shape his values of hard work, humility, and integrity. After earning a finance degree from nearby Bradley University, he joined Northwestern Mutual in 2003, where his father had long been a policyholder. Although he describes himself as a natural introvert, Waite found success in sales by asking thoughtful questions and listening carefully—traits that…

Name: Lorrie Baldevia Firm: AssuredPartners Location: Seattle, WA Total Value of Policies: $6.3 billion Background: Lorrie Baldevia describes her connection to insurance as deeply personal. The eldest of five children, she lost her father in a tragic construction accident at age 12 in Guam. Her mother raised the family on her own and was able to do so thanks to a life insurance policy—an experience that would ultimately shape her career. “It gave us a kind of financial security we wouldn’t have had otherwise,” she says. Baldevia moved to the United States at 17 on a full scholarship to Seattle…

In today’s economy, business leaders are navigating a familiar yet complex tension: uncertainty paired with opportunity. News continues to drive market volatility, interest rates are holding, and the regulatory environment is evolving, but across sectors, one thing is clear – businesses that can scale their strengths are positioned to succeed. That’s the lens through which we should view recent activity in the banking sector, particularly the return of thoughtful, strategic mergers. ConnectOne’s recent merger with The First of Long Island Corporation wasn’t just about growth, it was about readiness and filling a need in a market. In today’s dynamic business…

The Federal Reserve needs to be hit with the intellectual version of a B-2 bomber or a DOGE-like intervention. Our central bank is behaving badly. It won’t reduce interest rates, in no small part because it’s angry over Donald Trump’s loud calls to cut rates and his consistent carping at Fed boss Jerome Powell. The proof of the Federal Reserve’s animus toward President Trump is that the central bank cut interest rates twice before the presidential election—which would have presumably helped the Democrats—and it has resisted cutting rates since the beginning of Trump’s second term, even though inflation is lower…

OBSERVATIONS FROM THE FINTECH SNARK TANK Chime launched its IPO with a splash. Shares jumped as much as 59% above the $27 offering price—opening at $43 and closing near $37—marking a bold public debut for the US’s largest neobank. With a valuation hovering between $11.6 billion and $15 billion—well below its 2021 private peak of $25 billion—the surge raises the question: Will this trigger renewed investment in neobanks and fintech? Pro: A Strong Chime IPO Reignites Fintech Interest Chime’s IPO follows strong debuts from fintechs like Circle and eToro. PitchBook’s Rudy Yang framed Chime as “a strategic breakthrough—marking a return…