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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The letter from House Financial Services Chair Maxine Waters and Rep. Al Green points to laws passed by some state and local legislatures where financial institutions have been required to disclose whether they had ever profited from slavery in order to operate in their jurisdiction.
June 7 -
The Ohio Democrat and chair of the Senate Banking Committee acknowledged banks’ existing privacy obligations under the Gramm-Leach-Bliley Act but argued that the 1999 law did not go far enough to address the privacy landscape of 2022.
June 7 -
A report from the Roosevelt Institute published Monday urges Biden’s bank regulators to address climate risks through supervisory guidance, a move unlikely to garner support from banks.
June 6 -
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In a letter Tuesday to CEO Charlie Scharf, Senate Banking Committee Chair Sherrod Brown pointed to recent media reports and said he expected Wells Fargo to develop a plan addressing “weaknesses that have plagued the bank for almost a decade.”
May 31 -
The Secure and Fair Enforcement Banking Act would take the uncertainty out of banking and payments transactions involving legal cannabis businesses. The bill has languished in the Senate for years, but there's optimism it could finally reach the president's desk. Here are four ways that could happen.
May 15 -
A bipartisan group of senators is calling for a bill allowing banks to serve the legal cannabis industry to be included in the U.S.-China trade bill, ending a yearslong blockade of the popular legislation.
May 12 -
The Michigan State University economist endured a grueling political fight over her nomination and secured a party-line vote in her favor on Tuesday night.
May 11 -
A bipartisan group of senators Tuesday urged the Treasury Department and the Financial Crimes Enforcement Network to speed up implementation of the Corporate Transparency Act. It's only the latest of several efforts by lawmakers urging regulators to move faster since Fincen missed the statutory implementation deadline in January.
May 10 -
Treasury Secretary Janet Yellen pointed to a recent implosion of the experimental TerraUSD stablecoin — which uses an algorithm rather than fiat currency pegging to maintain its value — as the latest evidence for urgently needed regulation in the sector.
May 10
