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 legislation would grant stablecoin issuers a high degree of flexibility, allowing firms to be regulated state by state, as a bank, or as a “limited national limited payment stablecoin issuer” supervised by the Office of the Comptroller of the Currency.
April 6 -
Even as the Biden administration ramped up sanctions against Russia on Wednesday, Treasury Secretary Janet Yellen faced questions from Republican lawmakers who want to go further. Yellen, meanwhile, stressed the value of working together with allies.
April 6 -
Vocal in their opposition to some restrictive state laws in recent years, most institutions are silent on similar laws being pursued today. Why?
April 5 -
Democrats at a hearing on Capitol Hill contended overdraft fees hurt low-income consumers and should be reined in — with Rep. Maxine Waters proposing to make larger banks offer an account without such charges. Yet Republicans said eliminating the fees would drive some consumers toward predatory lenders and away from small banks.
March 31 -
Sen. Pat Toomey, R-Pa., is accusing the Consumer Financial Protection Bureau of pressuring Equifax, Experian and Transunion into removing most medical debt from credit reports, a move he says would compromise lenders' ability to gauge risk. Democrats, experts who testified at a hearing Tuesday and the CFPB pushed back.
March 29 -
The nomination of Lisa Cook, an economics professor who is one of President Biden's choices for the Federal Reserve's Board of Governors, advanced Tuesday on a party-line procedural vote in the Senate.
March 29 -
The White House's $5.8 trillion spending proposal to Congress includes more dollars for anti-money-laundering enforcement, Small Business Administration loan guarantee programs and affordable housing financed by community development financial institutions.
March 28 -
House Financial Services Committee Chair Maxine Waters has asked more than 30 trade associations, including banking groups, to describe how their members — company by company — have limited or ended their dealings in Russia since its invasion of Ukraine.
March 24 -
A new Securities and Exchange Commission proposal would require public companies to report climate-related risks across their value chain. That could be especially difficult if it means banks have to account for their borrowers' emissions.
March 21 -
Four of five bills aimed at countering Russian aggression in Europe won significant bipartisan support from the House Financial Services Committee on Thursday. But the panel adopted a bill intended to expand the Financial Crimes Enforcement Network's ability to hunt down Russian assets over fierce Republican opposition.
March 17
