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Consumer Financial Protection Bureau Director Rohit Chopra has helped assert the authority of the three Democrats — including himself — who serve on the governing body of the Federal Deposit Insurance Corp. GOP lawmakers responded with a bill to strip the consumer agency's head of voting powers on the FDIC board.

Neither Federal Deposit Insurance Corp. Chair Jelena McWilliams nor the board’s three Democratic directors gave ground in their dispute over control of the agency and the direction of bank merger policy during a meeting Tuesday.

The American Bankers Association urged the agency to maintain “an orderly, transparent policymaking process” after three Democratic directors had approved a board action without including Trump-appointed Chair Jelena McWilliams. The U.S. Chamber of Commerce went a step further, accusing them of trying to “circumnavigate” McWilliams’ authority.

In an unprecedented move, two Democrats on the Federal Deposit Insurance Corp.’s board said they had approved a review of the policy without the consent of Trump-appointed Chair Jelena McWilliams. The agency released a statement saying the action had no legal standing.

The Financial Crimes Enforcement Network proposed standards to determine which companies must report their beneficial owners under a law enacted in January. Banks hope the new requirements will free them of the burden of collecting true-owner information about their customers.

The guessing game is over about President Biden’s pick for Federal Reserve chair, but several names are in the mix for three additional vacancies on the board, including vice chair for supervision.

Chryssa Halley, who has been with the company since 2006, was named CFO and Jim Holmberg was named controller.

Some of the biggest names in crypto will head to Capitol Hill next week as lawmakers weigh new rules for the white-hot asset class.

Securities and Exchange Commission Chair Gary Gensler doubled down on his calls for more oversight of cryptocurrency trading platforms on Wednesday, offering new insight into his priorities as he seeks to crack down on the digital coin industry. 

The White House is considering nominating Richard Cordray, who led the Consumer Financial Protection Bureau from 2013 to 2017, as the Federal Reserve's next vice chairman of supervision, according to a report in The Wall Street Journal.

The Senate Banking Committee is considering hearings as early as December on the nominations of Federal Reserve Chair Jerome Powell for a second term as leader of the nation’s central bank and the elevation of Fed Gov. Lael Brainard to become vice chair.

The collapse of Archegos Capital Management revealed vulnerabilities at the banks supervised by the Federal Reserve, the U.S. central bank said in a report released Wednesday.

Despite naming key leaders of the Federal Reserve this week, including renominating Chair Jerome Powell, the Biden administration delayed its pick for vice chair of supervision. Moving a nominee for the post later through the divided Senate could prove difficult, analysts said.

The president has selected Jerome Powell to serve a second four-year term as Federal Reserve chair and chosen Gov. Lael Brainard as the next vice chair.

Two progressive Democratic senators said they oppose the renomination of Federal Reserve Chair Jerome Powell to a second term, joining Elizabeth Warren in urging President Biden to choose someone else.

Wilson created an app from scratch in the middle of a large merger, he's setting up “client journey rooms” where customers co-create technology with technologists, and he's moving the bank forward into cloud computing.

The Independent Community Bankers of America made the rare move of urging senators not to confirm Saule Omarova to lead the Office of the Comptroller of the Currency. The group argued that some of her proposals could have drastic consequences for the industry.

Saule Omarova faces an uphill climb to confirmation as comptroller of the currency over concerns that she supports more government control of the banking system. Her hearing before the Banking Committee could be a make-or-break moment, observers say.

Senate Banking Committee Chairman Sherrod Brown said Tuesday he has no doubt the Senate would confirm either Federal Reserve Chair Jerome Powell to a second term or his possible successor, Fed Gov. Lael Brainard.

The problems were revealed during recent examinations conducted by the Federal Reserve Bank of New York on the Chinese bank’s U.S. operations.