Claire Williams covers banking policy matters on Capitol Hill. She previously wrote about financial and economic policy for Morning Consult and earlier had stints at S&P Global and the Arkansas Democrat-Gazette.
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The Illinois state legislature, as part of an agreement with retailers to raise state tax revenue, passed a budget bill that would bar the collection of interchange fees on sales taxes, excise taxes and tips for transactions that would be subject to Illinois sales taxes.
May 29 -
House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg to make himself available for a June 12 hearing on the agency's workplace culture.
May 23 -
The bill includes a provision that would codify Republicans' and the banking industry's complaints with a Securities and Exchange Commission measure that banks say would bar them from custodying crypto assets.
May 22 -
The bill spells out how the Securities and Exchange Commission can and can't address crypto custody at banks and is getting a wave of bipartisan traction on Capitol Hill. But some academics and consumer advocates are concerned that the legislation could allow banks to bypass regulations.
May 21 -
Martin Gruenberg's ouster from the Federal Deposit Insurance Corp. leaves the White House with the difficult task of finding a regulator willing to serve a roughly six month term atop the beleaguered agency.
May 21 -
Banking experts said that none of the currently circulating stablecoin proposals adequately address concerns about the overlap between banking and commerce and how a stablecoin issuer would go through insolvency.
May 20 -
Earlier in the day, Sen. Sherrod Brown, D-Ohio, the top Democrat on the Senate Banking Committee, called on the White House to name a successor for Federal Deposit Insurance Corp. Chairman Martin Gruenberg.
May 20 -
The House Financial Services Committee passed eleven bills, including a Democratic-sponsored bill on homeless veteran housing and a Republican-led package on bank regulation.
May 17 -
In a statement to Sen. Tim Scott, R-S.C., the ranking member of the Senate Banking Committee, a number of anonymous Federal Deposit Insurance Corp. employees allegedly expressed doubts that FDIC Chairman Martin Gruenberg could lead the agency through necessary changes to fix workplace issues.
May 16 -
Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.
May 15
