Claire Williams

The Federal Deposit Insurance Corp.'s solution to add the ombudsman to an appeals committee as a nonvoting member wouldn't be enough to ensure the independence of the appeals process, banks said.

The rate of unbanked consumers declined to its lowest point since the Federal Deposit Insurance Corp. began its biennial survey in 2009.

If stablecoins facilitate payments in the future it could have broad implications, acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said.

The Federal Deposit Insurance Corp. also approved the advance notice of proposed rulemaking for large-bank resolvability requirements and made some changes to its process for banks to appeal supervisory decisions.

Campaign rhetoric and industry political spending shows that private equity and investment firms have taken banks' place in the hot seat.

Rep. Patrick McHenry, ranking member on the House Financial Services Committee, said he and Maxine Waters, who chairs the panel, agree stablecoins should be backed one-to-one.

Erica Bovenzi is the second high-profile former FDIC employee this year to join the board of the liquidity management firm. Brian Argrett leads City First Bank and its parent Broadway Financial.

House Financial Services Committee ranking member Patrick McHenry, R-N.C., is poised to be a leading critic of the administration's regulatory policies in the next Congress.

Acting Comptroller of the Currency Michael Hsu referenced several large crypto firm meltdowns in the last year, including Voyager and Celsius.

Banking issues are quiet on the campaign trail in 2022, but there are a few races in November that could have big implications in the next Congress.

The lawmakers have asked Attorney General Merrick Garland to share the Department of Justice's analysis on creating a central bank digital currency by Oct. 15.

While the Financial Crimes Enforcement Network has finalized some Corporate Transparency Act rules, the timetable is unclear for regulations involving customer due diligence or database access for banks.

The report from the Financial Stability Oversight Council on cryptocurrency also urges action to prevent regulatory arbitrage and for regulators to study direct access to markets by retail customers.

Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said regulators won't tell banks who to lend to, but the government won't be there if their investments go bad.

The Federal Reserve and the Federal Deposit Insurance Corp. are aiming to finalize its guidance by summer 2023.

Banks pushed for the rule implementing the Corporate Transparency Act that would ease one of their toughest anti-money-laundering burdens.

The comptroller, Brad Lander, asked U.S. Bank to outline the number of fake accounts the bank opened for New Yorkers.

Bipartisan legislation co-sponsored by Reps. Lance Gooden of Texas and Peter Welch of Vermont would require large banks to support at least one network other than Visa or Mastercard. Banking industry groups argue that it would help big retailers at the expense of consumers.

The White House's unexpected choice of two Republican members of the Federal Deposit Insurance Corp. this week has called the agency's future leadership into question.

The Biden administration has selected Travis Hill, formerly Jelena McWilliams' policy chief, for the No. 2 spot on the board of the Federal Deposit Insurance Corp.