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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Net income significantly recovered compared with a year earlier, totaling $70.4 billion. But the average net interest margin fell to another record low as lending remained sluggish, the FDIC said in its quarterly update.
September 8 -
The agency’s enforcement action against Better Future Forward says the nonprofit’s income-share agreements — an alternative education finance product — must follow the Truth in Lending Act just like other forms of student loans.
September 7 -
The Federal Deposit Insurance Corp. is soliciting feedback on banks' experiences with remote exams during the pandemic. Some welcome the review as a step toward a more modern examination system, while others contend the last year and a half exposed the drawbacks of long-distance oversight.
August 31 -
AB - Policy & RegulationRegulators and the Biden administration are considering how to respond to the sharp growth in digital assets pegged to fiat currency. Their options include establishing rules like those for bank deposits and having the Federal Reserve issue a digital dollar that competes with private-sector stablecoins.
August 26 -
The agency signaled during the Trump administration that it would approve more industrial loan companies following an extended freeze in new charters due to policy disputes. But the thaw will likely prove temporary now that the board's makeup has changed.
August 18 -
Nearly eight months of the Biden administration have gone by without a word from the White House on a nominee to lead the Office of the Comptroller of the Currency. Here are some of the candidates who have been in (and in some cases fallen out of) the running.
August 16 -
Financial Services Superintendent Linda Lacewell said she will step down Aug. 24, the same day Gov. Andrew Cuomo plans to leave following a sexual harassment investigation. The state’s attorney general found that Lacewell helped with the governor’s public relations response to the allegations.
August 13 -
The agency asked bankers to reflect on their experience with virtual monitoring over the past year amid speculation that the pandemic could speed a full conversion to off-site supervision.
August 13 -
The Boston-based cryptocurrency firm says it would welcome the tough oversight that comes with being a bank. Yet Biden-era regulators have shown apprehension about granting approvals to digital-asset firms.
August 10 -
The San Francisco company says it will "modify and strengthen" its filings with the Federal Deposit Insurance Corp. and Utah officials and "resubmit at a later date." It's the latest fintech to encounter such a setback, though some later secured approval.
August 6
