Supreme Court vs. CFPB; Wells promotes Fercho; Amex + developers

What happens when the CFPB's funding question hits the Supreme Court?: Legal experts are gaming out the various options for the Consumer Financial Protection Bureau after a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

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American Express and its rivals are stocking up on tech talent: The overall technology sector may be downsizing, but American Express is bulking up for a cross-department innovation initiative, and Visa , Mastercard and Discover Financial Services are hiring thousands of programmers and developers.

Credit union regulator says liquidity risk is top priority for 2023: Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the NCUA 's eastern regional director, John Kutchey .

Goldman ups its efforts to woo clients' developers: The Platform Solutions group, headed by former chief strategy officer Stephanie Cohen , is building embedded banking solutions for corporate clients.

Wells Fargo promotes Fercho to lead its diversity and inclusion group: Kristy Williams Fercho , who's run the bank's home lending division since August 2020, will report directly to CEO Charlie Scharf and sit on the operating committee. Last year, she became the first Black person to chair the Mortgage Bankers Association , and she took the top spot in American Banker's Most Powerful Women to Watch list this year.

Warren, other lawmakers urge Fed to slow, pause rate hikes: Ahead of this week's Federal Reserve Board Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Also in regulation: BankThink: America needs a do-something Congress: Rather than blaming the Federal Reserve, CFPB and agencies for getting over their skis, American Banker Washington Bureau Chief John Heltman blames Congress for being unable to give them workable, solid power to solve agreed-upon policy objectives.