Regulation/Compliance

Biden administration appointees moved quickly to highlight climate change risks and unwind Trump-era regulatory relief and housing finance measures. These regulators and lawmakers will have a seat at the table as the progressive shift in banking policy continues.

Maxine Waters, the House Financial Services Committee chair, is questioning Federal Deposit Insurance Corp. chief Jelena McWilliams's claim that board Democrats' request for comment on merger policy was invalid without her support.

In attempting to advance a measure dealing with bank merger policy, the three Democratic board members at the Federal Deposit Insurance Corp. were really trying to "wrest control" of the agency, Chair Jelena McWilliams said in a Wall Street Journal op-ed.

The nomination hearing for Saule Omarova featured sharp questioning from members of both parties, raising further doubts about her chances of getting confirmed. The industry views her as too anti-business to lead the Office of the Comptroller of the Currency.

The industry opposes expanded IRS reporting and other tax-related provisions that Congress would use to pay for the overhaul. But the bill could also boost funding for small businesses and affordable housing.

Bankers worry the proposed reporting requirements on small-business loans will be used to shame lenders for neglecting minority-owned firms. Community groups are already preparing to use the data to point out racial disparities.

Ex-Director Kathy Kraninger became vice president of regulatory affairs at Solidus Labs as the crypto market comes under increased scrutiny in Washington.

Regulators must urgently usher the unbanked or underbanked individuals into the wider financial ecosystem as they continue to craft open banking rules, says FISPAN's Clayton Weir.

A proposal still in the early stages to have banks report on customers’ account activity to help the government nab tax evaders is being panned by the industry as overly burdensome and a privacy threat.

Over half of all credit unions with less than $250 million of assets are run by women, but those institutions continue to be merged out of existence. A group of 13 women who lead such organizations have banded together in an effort to ensure their survival.