The Senate Banking Committee will hold separate hearings next week for Jerome Powell on his nomination to a second term as Federal Reserve chair and for Lael Brainard’s elevation to vice chair.
Powell will appear by himself before the committee on Jan. 11 at 10 a.m. in Washington, the committee said in a notice on its website Tuesday. Brainard, currently a Fed governor, will testify two days later alongside Sandra Thompson, the White House nominee to head the Federal Housing Finance Agency.
President Biden has three more seats to fill on the board, including a new vice chair for supervision. Those picks, along with Powell and Brainard’s four-year terms for their slots, are all subject to approval by the full Senate.
Bloomberg News reported Monday that the White House is likely to nominate the economist Philip Jefferson for a seat on the Fed’s Board of Governors, according to people familiar with the matter, an appointment that would make him just the fourth Black man to hold the position in the central bank’s more than 100-year history.
The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
In the inaugural iteration of American Banker's news quiz, test your knowledge on top articles covering the legal battles of the Consumer Financial Protection Bureau, new technology testing at JPMorgan Chase, earnings season and more.
To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.