Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.
Federal Reserve chair Jerome Powell flagged a recent upward revision to income and savings data as a sign of economic strength. He said the information could factor into the central bank's monetary policy discourse during the Fed's next interest rate meeting in November.
Top banking trades have thrown their support behind the central bank's argument that it has discretion over access to its payments systems. Custodia is seeking to appeal a lower court ruling that affirmed that discretion.
Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.
While other Washington regulators revise their approaches to merger reviews, the Federal Reserve has made no official change to its framework. The $35 billion merger could demonstrate just how differently the central bank is approaching the issue — if at all.
This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she's seen didn't convince her of the need to cut rates as much as her fellow governors thought.
Consumer Financial Protection Bureau Director Rohit Chopra joins the Federal Deposit Insurance Corp.'s two Republican board members in opposing a revamped Basel III endgame proposal, leaving the future of the nascent plan uncertain.
The Federal Reserve chair said he supports the revised proposal outlined by Vice Chair for Supervision Michael Barr and said the new proposal would get a vote by the full Board of Governors early next year.
The move signals the end of the Federal Reserve's battle against runaway inflation in the wake of the COVID-19 pandemic. Fed officials expressed divergent views on further action this year.
Federal Reserve Vice Chair for Supervision Michael Barr conceded major points to the industry on last year's capital reform proposal. But how regulators will approach other reforms in light of that experience is uncertain.