Governor Michael S. Barr issued one of the most urgent warnings in recent memory about the trajectory of U.S. bank regulation.

Two must-read reports — the FDIC Bank Quarterly and the Alvarez & Marsal deregulation primer — reveal how regulatory rollback unleashed a surge in bank lending to non-banks.

© getty

The environment that created private credit has reversed: rates are elevated, refinancing is harder, and signs of stress are emerging across the asset class.

© MRV

Three national legislators are demanding accountability for a $200 billion private equity invasion of America's defense industrial base.

© Getty