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 rule, which runs well over 500 pages, is expected to meet resistance from bankers worried about the regulatory burden of calculating the carbon emissions from their borrowers.
May 9 -
Lenders argue that they're taking steps to eliminate or rein in the consumer fees, but several Democratic senators say reform legislation could be a necessary step in the near future.
May 4 -
Democrats face the brunt of this year’s tough elections among the key financial committees in Congress, but Republicans are retiring in greater numbers.
May 3 -
The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.
April 29 -
Acting Director Himamauli Das acknowledged concerns from Democratic lawmakers that Fincen was moving too slowly to implement beneficial ownership rules but said the agency "will likely continue to do so, because our budget situation has required us to make significant trade-offs among competing priorities.”
April 28 -
Sens. Elizabeth Warren and Bob Menendez say the banks that own the payments system "have chosen to let consumers suffer" from unchecked fraud problems.
April 27 -
The industry is preparing for a grueling federal rulemaking process to implement the Corporate Transparency Act, which was intended to streamline anti-money-laundering compliance. Analysts say the devil will be in the regulation’s myriad details.
April 24 -
Observers say that while Michael Barr may not be progressives' first choice to be the Fed's top regulator, he has gained their support given the importance of the post and the pressure of looming midterm elections. What his exact policy prescriptions and priorities in the post-Dodd-Frank world will be, however, is unclear.
April 19 -
More than a year into his administration, President Biden has either vacancies or acting heads of each of the bank regulatory agencies. That may not be ideal, but the White House doesn't seem to be eager to put forth permanent replacements.
April 11 -
In a letter obtained by American Banker, the Senate Banking Committee chair called on the Federal Reserve and Office of the Comptroller of the Currency to reform their bank merger review processes.
April 7
