Ebrima Santos Sanneh

The Federal Reserve Thursday released a report on its climate scenario analysis pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.

Federal Reserve Governor Lisa D. Cook highlighted concerns over private credit growth, commercial real estate distress and escalating cyber threats in remarks on financial stability at the Brookings Institution Wednesday.

An independent examination of the Federal Deposit Insurance Corp. workplace culture revealed an atmosphere of sexual harassment, discrimination and misconduct at the agency and raised the need for significant reforms.

In a surprise move, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Federal Housing Finance Agency proposed a long-awaited rule to curb certain incentive-based pay arrangements for bank executives.

The Drug Enforcement Administration's early moves to reschedule cannabis could spur some banks to get interested in the market, but experts say without a legislative fix, the fundamental risks to taking on cannabis clients will remain.

The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.

The Federal Deposit Insurance Corp. says it's ready to wind down the global systemically important banks. But until that happens, many in the banking industry are skeptical that regulators have actually developed a workable strategy to end "too big to fail."

According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.

Federal Reserve Governor Michelle Bowman said she believes there is a feasible path forward for the revised capital reform proposal, emphasizing the importance of making broad changes informed by industry feedback to achieve broad consensus among Federal Reserve board members.

Democratic Sens. Elizabeth Warren, Mass., and Sheldon Whitehouse, R.I., decried the U.S. Chamber of Commerce's suit against the Consumer Financial Protection Bureau's credit card late fee rule, saying the suit is an example of the kinds of frivolous litigation it opposes elsewhere.