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 three high-profile lawmakers threw their weight behind a push by Sen. Elizabeth Warren, who urged the Office of the Comptroller of the Currency to crack down on crypto activity in the banking sector.
August 10 -
Bank advocates say that stark government scrutiny of bank forays into digital assets has been misplaced and that if the administration would like to see responsible innovation in crypto, the banking system could be the place to do it.
August 9 -
The Inflation Reduction Act of 2022 will funnel nearly $400 billion in tax incentives toward clean energy projects while increasing taxes for large businesses, banks included.
August 8 -
A letter from Democratic senators seeking new details about unauthorized accounts is the latest political headwind for the Minneapolis bank. It comes on the heels of a $37.5 million fine by the Consumer Financial Protection Bureau.
August 4 -
A draft letter obtained by American Banker would ask acting Comptroller Michael Hsu to rescind several interpretive letters issued during and following the Trump administration that gave banks cover to pursue certain crypto activities.
August 4 -
The effort, spearheaded by Democratic Sen. Mark Warner and Republican Sen. Mike Crapo, is the latest sign of the community development industry’s rising political prominence in Washington.
August 1 - Democrats are disfavored in this year's midterm elections, but several factors are keeping races close. The outcome will affect the bank regulatory trajectory for at least the next two years.Sponsored by Talkdesk
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Democrats and Republicans on the House Financial Services Committee appeared diametrically opposed on the future of overdraft fees, with GOP lawmakers warning that a crackdown would push consumers toward payday loans.
July 27 -
First introduced in 2020, the Fair Access to Financial Services Act would require banks to serve all customers in a manner similar to existing requirements for hotels and restaurants under the Civil Rights Act of 1964.
July 26 -
Rumors of a bipartisan bill to set common standards for stablecoins have been circulating for more than a week, but any legislation will now have to wait until after the August recess.
July 25