Sign up here to receive American Banker’s complete Bankers’ Hours newsletter — delivered to your inbox every morning.

Some of the most influential Republicans on financial services policy are facing unexpectedly competitive elections this November, and the cryptocurrency industry is coming to their rescue. 

Fresh off a legislative defeat after a much-vaunted crypto market structure bill failed to pass the Senate last month, the crypto industry has ramped up spending in the 2026 midterm campaign to keep its allies in power. More here.

The Department of the Treasury on Tuesday announced a $1.21 billion penalty against…