Claire Williams

Martin Gruenberg has been acting chairman of the Federal Deposit Insurance Corp. since February and is the longest-serving member of the FDIC board.

Incumbent Senate Banking Committee member Catherine Cortez Masto, D-Nev., narrowly won reelection Saturday night in a victory that will have significant implications for the Biden administration's policy agenda.

House Financial Services Committee Chair Maxine Waters joined her Republican counterpart on the panel saying FTX's unwinding hastens the need for legislation that outlines crypto regulation.

North Carolina Republican Pat McHenry, who's likely to be the next chair of the House Financial Services Committee, promised constituents that he would go after "woke corporations" in Washington.

Rep. Patrick McHenry, R-N.C., who could be the next House Financial Services Committee chairman, handily won reelection, as did Sen. Tim Scott, R-S.C., of the Senate Banking Committee. But many consequential races are still too close to call.

The world's largest crypto trading platform, Binance, is bailing out its rival FTX in a buyout amid the smaller company's liquidity crisis.

The interest paid on consumer deposits has barely risen despite the Federal Reserve's aggressive rate hikes, writes Sen. Jack Reed, D-R.I., in letters to seven of the largest U.S. banks including JPMorgan Chase and Wells Fargo.

The potential for either chamber of Congress to turn over to Republicans and rising concern about inflation adds urgency to pass the Durbin-Marshall amendment on interchange fees, experts say.

With the 2022 midterm elections around the corner, Democrats are losing steam and Republicans are banking big on economic malaise turning swing voters their way.

New Consumer Financial Protection Bureau guidelines say overdraft fees "that a consumer would not reasonably anticipate" could be illegal. President Biden and CFPB Director Rohit Chopra promoted them at a press briefing Wednesday.

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.