Claire Williams

The outgoing chair of the House Financial Services Committee and Sen. Cory Booker of New Jersey led a new letter to the Government Accountability Office.

Amid testimony from Consumer Financial Protection Bureau Director Rohit Chopra in front of the Senate Banking Committee, Sen. Pat Toomey proposed that the agency should be funded in the congressional appropriations process.

In a series of tense exchanges, Republicans accused Consumer Financial Protection Bureau Director Rohit Chopra of making rules through press releases.

The bill would apply banklike money laundering laws and regulations to a wide range of cryptocurrency firms.

Acting Federal Deposit Insurance Corp. Chair Martin Gruenberg's nomination passed the panel in a 13-11 vote.

FTX's new chief executive, John J. Ray, described shoddy accounting processes and a core group of inexperienced leaders that contributed to the crypto exchange's collapse.

University of Chicago economist Austan Goolsbee previously served as chair of the White House Council of Economic Advisers during the Obama administration.

FTX's previously unknown ties to the banking system have raised questions about crypto's reach in traditional finance.

The Federal Deposit Insurance Corp. acting Chairman Martin Gruenberg suggested that could decrease in future quarters as market pressures push up the interest that banks need to pay for consumer deposits.

Acting Federal Deposit Insurance Corp. Chairman Martin Gruenberg was described even by Republicans as well qualified and experienced, but took heat for a year-old drama that led to the departure of the agency's former chairman.

Early next year the 2nd Circuit Court of Appeals is slated to consider whether certain loans are actually securities.

The Federal Deposit Insurance Corp. lacks a board member with state banking regulatory experience as required by law, the Conference of State Bank Supervisors says. None of President Biden's picks — including acting Chair Martin Gruenberg — meets that criterion.

Wall Street reporting has left Main Street behind and you, dear banker, should be concerned. A new book, "The Future of Business Journalism," explains why.

In the House of Representatives, Rep. Patrick McHenry wants to push regulators and bank CEOs on their ESG investments, but the real action is happening at the state level.

The FDIC recently proposed that an ombudsman be added to the Supervision Appeals Review Committee as a nonvoting member.

Sens.  Debbie Stabenow, D-Mich., the committee's chairman, and John Boozman, R-Ark., its ranking member, will need to revamp their legislation to oversee crypto, which was supported by FTX Chief Executive Sam Bankman-Fried.

SoFi Technologies was supposed to divest its digital-asset trading arm when it acquired Golden Pacific Bancorp, but Senate Democrats say the bank has instead expanded it.

Financial Services Committee Chair Maxine Waters and the panel's top Republican, Rep. Patrick McHenry, pressed bank regulators to support bipartisan stablecoin legislation and other efforts to toughen standards for cryptocurrencies in the aftermath of the FTX collapse.

In a new report, the Treasury Department also raises the question of scrapping the $10 billion threshold for debit card issuers in the Durbin amendment.

The Federal Reserve's vice chair for supervision, in his first appearance before Congress since being confirmed, testified that the banking industry has been spared so far from the chaos in cryptocurrency markets. But he warned that too little is known about nonbank activities that could "blow back" to the regulated financial system.