Brendan Pedersen covered Capitol Hill and regulatory politics for American Banker until September 2022. From 2019-2021, he covered the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency as well as fintech policy. Originally from Chicagoland, he was previously a staff writer for Kiplinger's Personal Finance and covered local business affairs in Denver, Colorado for BusinessDen.
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Rep. Patrick McHenry, R-N.C., said at an American Bankers Association summit that if Republicans win majority control of the House in the upcoming congressional elections, they would “unleash the free market” by pursuing innovation-friendly policies.
March 8 -
The Biden administration's decision to bar oil and gas imports from Russia could increase domestic production and energy lending yet impede overall growth and demand for credit.
March 8 -
Senate Democrats insist the GOP's boycott of President Biden's picks for the Federal Reserve is interfering with the central bank's handling of an economic crisis. But GOP lawmakers say the Fed is functioning fine and their concerns about nominee Sarah Bloom Raskin are material.
March 3 -
The president highlighted the economic pain his sanctions have inflicted on Russia during his first State of the Union address, and called on the Senate to confirm his slate of nominees to the Federal Reserve.
March 1 -
The impact of U.S. sanctions against Russia on U.S. banks has so far been limited. But further escalation could lead to anti-money-laundering compliance challenges and invite cyberattacks, among other consequences.
March 1 -
Industry groups are adamant that regulators must make it easier for banks to merge in order to compete with nonbanks, while consumer advocates say bank mergers are too easy and hurt the consumer beyond raising the price of credit.
February 28 -
The Federal Reserve's capital guidance for S corporations is hindering some community development banks' access to the Treasury's $9 billion Emergency Capital Investment Program. The Fed has offered exemptions in the past, so why isn't it doing so now?
February 23 -
Republicans on the Senate Banking Committee skipped its scheduled vote on five Federal Reserve appointees, preventing a quorum. Minority Leader Mitch McConnell echoed concerns raised about nominee Sarah Bloom Raskin, saying she wants the Fed to become an “ideological left-wing activist body” that interferes with private-sector credit decisions.
February 15 -
Republicans urged federal authorities to take a light-touch approach to regulating stablecoins during a Senate Banking Committee hearing, while Democrats intensified demands for strong consumer protection.
February 15 -
A crucial centrist vote among Democrats, the Montana lawmaker and Senate Banking Committee member predicts the full chamber will support Raskin's nomination for vice chair for supervision of the Federal Reserve Board if she advances out of committee on Tuesday.
February 14
