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In his new book, “Shutdown: How Covid Shook the World’s Economy,” the historian Adam Tooze argues that the Federal Reserve's interventions preserved a flawed economic status quo. But it still isn't clear what the central bank could have done differently.

Saule Omarova is scheduled to appear before the Banking Committee as progressives cheer her potential appointment to lead the Office of the Comptroller of the Currency and critics describe her views as too radical. Her confirmation would rely on the support of every Democrat in the chamber.

In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”

Federal Reserve Governor Lael Brainard was interviewed for the top job at the U.S. central bank when she visited the White House last week, according to people familiar with the discussions. She and Fed Chair Jerome Powell are the only people who have publicly surfaced as being in the running for the post.

Directors can urge executives to move more quickly in gauging their institutions’ vulnerability to extreme weather events, said acting Comptroller of the Currency Michael Hsu. He offered a list of five questions every board member should ask senior leaders about their progress.

Fearing government intrusion, financial institutions’ own clients rallied against the Biden administration plan for their account information to be shared with the IRS. Their involvement added weight to the industry’s opposition.

Senior Federal Reserve officials violated the central bank’s prohibition of stock trading that may appear improper, even if specific guidelines weren’t broken, Chair Jerome Powell said.

A report by the agency found that consumers in majority Black neighborhoods were more than twice as likely as those in white neighborhoods to lodge complaints with the credit bureaus over information in their files. Meanwhile, disputes were less common among older borrowers.

President Biden said he’ll announce soon his choice of nominees for chair and other vacancies on the Federal Reserve, amid a scandal over stock trades by central bank officials.

Federal Reserve Chair Jerome Powell called Sherrod Brown, the head of the Senate panel that oversees the central bank, this week to discuss Powell’s sweeping proposal to limit securities trading by senior Fed officials, as well as Brown’s new legislation on the subject.

A proposal that would enlist financial institutions’ help in raising tax revenue to pay for President Biden’s social policy agenda lost steam after objections from a key senator. The administration was said to be narrowing the plan’s scope to preserve its chances.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

Sen. Joe Manchin of West Virginia, a swing Democratic vote in deliberations over President Biden's social spending bill, signaled opposition to requiring financial institutions to report customer account information to help catch tax evaders. The measure "is going to be gone," he predicted.

In their first direct appeal to President Biden, financial institutions and other industries' trade lobbies called on the administration to abandon its proposal that would give the Internal Revenue Service new information on customer accounts.

Treasury Secretary Janet Yellen defended Federal Reserve Chair Jerome Powell’s record on regulating the financial system amid attacks by progressives seeking to deny him a second term — even though in the past she’s expressed some misgivings about rulemaking under his watch.

Democrats proposed raising the account threshold and exempting certain transactions from a measure enlisting financial institutions’ help in catching tax cheats. But opponents say the changes are insufficient and centrist lawmakers — whose support is crucial to enact the plan — were mum.

A House member suggested she and other party moderates are open to revamping or even scrapping a plan that would require banks to report customer account information to the Internal Revenue Service.

This past year has proven that traditional leadership models will not take us forward. Attracting and retaining talent, especially diverse talent, depends on how well we listen to and understand the many changes in what employees value.

As the expiration of a national eviction moratorium puts economic pressure on low-income households, the Consumer Financial Protection Bureau is said to be considering investigating credit bureaus, debt collectors and large landlords accused of harming renters. But some argue the agency would be overreaching.

Banks and other stakeholders are trying to stop a proposal requiring financial institutions to submit more account data, but the Biden administration says opponents of the measure are spreading the false notion that it would reveal information about specific transactions.