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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Federal Reserve Vice Chair for Supervision Michael Barr said in a speech Tuesday that banks might need to establish margin to counteract counterparty risks presented by private funds.
February 27 -
The lawmakers, led by Sen. Elizabeth Warren, D-Mass., said the deal would further anti-consumer bank consolidation, but also criticized the OCC's proposed changes to the merger process, asking that they be strengthened.
February 26 -
Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Durbin, D-Ill. — which aims to spur competition for Visa and Mastercard.
February 21 -
The blockbuster merger proposal will be reviewed at a time when the Biden administration is expressing skepticism about consolidation. Its analysis will have to account for markets dominated by both big banks and the likes of Visa and Mastercard.
February 20 -
Sens. Sherrod Brown of Ohio, Jack Reed of Rhode Island and Elizabeth Warren of Massachusetts asked Early Warning Services, which operates the payment platform Zelle, to clarify its reimbursement policy around impostor scams.
February 16 -
Rep. Andy Barr, R-Ky., will propose legislation on Friday that would curtail the Federal Reserve's ability to slow down the bank merger process by mandating that the central bank must approve or deny applications within 90 days of receiving them.
February 16 -
Lawmakers on both sides of the aisle pulled back from criticizing the Federal Home Loan banks, seemingly taking off the table the idea of changing the system's role as a lender to troubled banks.
February 15 -
Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kansas, have added Sens. Josh Hawley, R-Mo., and Jack Reed, D-R.I., as cosponsors to a bill aimed at increasing credit card competition and lowering consumer fees.
February 14 -
Heartland Tri-State Bank, which failed after its CEO allegedly embezzled money to fund cryptocurrency investments, had received $21 million in advances from the Federal Home Loan Bank System.
February 12 -
American Honda Finance Corp., the financing division of carmaker Honda, says that the Consumer Financial Protection Bureau sent it a "civil investigative demand" connected to the "furnishing of credit reporting information on consumer accounts."
February 12 -
Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.
February 8 -
Jeremy Kress, a law professor at the University of Michigan, filed a petition for rulemaking to two bank regulators, asking them to adopt an unaffiliated director standard for larger banks to address conflicts of interest between banks and their holding companies.
February 8 -
"Some difference of views has emerged" between the Dutch banking regulator and two U.S. counterparts — the OCC and FDIC, bunq told American Banker.
February 7 -
Treasury Secretary Janet Yellen repeatedly demurred when invited to expound on the Basel III capital proposal, but didn't hold back her criticisms of the Securities and Exchange Commission's safeguarding rule and its consequences for banks' custody businesses.
February 6 -
In correspondence with Rep. Andy Barr, R-Ky., the Federal Reserve and Office of the Comptroller of the Currency said the Securities and Exchange Commission's proposed safeguarding rule could change banks' custody businesses.
February 5 -
Top House Financial Services Committee Republicans questioned the Federal Deposit Insurance Corp.'s stance on innovation, and said they were worried about the impact that would have on the bank examination process.
February 1 -
Federal Reserve Chairman Jerome Powell suggested that a rate cut is coming, but cast doubt about whether the central bank would see enough data suggesting inflation is sufficiently tamed for interest rates to come down at their next meeting.
January 31 -
Lawmakers criticized the Biden administration's Risk Rating 2.0 effort — which was meant to reduce insurance premiums by developing more refined models — as ineffective, arguing that the program has increased rate premiums in vulnerable areas.
January 25 -
By overturning so-called "Chevron deference," the Supreme Court could compel lawmakers to be less ambiguous in their legislative language, limiting agencies' interpretative power.
January 18 -
A group of Democratic lawmakers have written to federal regulators asking them to reconsider potential chilling effects on clean energy financing in the Basel III endgame proposal.
January 18
