Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.

The bank’s assets are capped at their current level of $1.95 trillion; Citi, JPM and B of A will no longer allow bitcoin purchases on their credit cards.

The Federal Reserve voted unanimously Friday to impose an unprecedented enforcement action against Wells Fargo in response to its phony-accounts scandal as the bank said it would remove four members of its board.

Federal Reserve Chair Janet Yellen, whose term expires Saturday, will join the Brookings Institution on Monday, the Washington-based think tank said.

Her career at the Federal Reserve is one of remarkable accomplishments, but time will tell how her tenure ultimately is remembered in terms of her impact on bank regulation and stewardship of the economy.

The Fed released its stress testing scenarios for banks this year, raising the bar on what constitutes severely adverse hypothetical market conditions.

Swelling capital levels, tax cuts and changing attitudes about post-crisis regulation could encourage bigger banks to issue the one-time payouts to reward shareholders and better manage their returns.

Regulators said they were taking steps to recognize contributions to the recovery made by banks anywhere in the nation.

Upper chamber approves nomination to succeed Janet Yellen; Twitter’s operations chief to take over online lender in March.

Senators overwhelmingly approved Jerome Powell to lead the Federal Reserve Board despite vocal opposition from some Democrats.

Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to the Federal Reserve Board.

Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, said his zero-funding request for the agency is not meant to drain it of resources.

Three nominees for financial regulatory posts, including the administration's choice to run the FDIC, will face questions by the Senate Banking Committee.

Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday gave the clearest indication yet of the central bank's intention to recalibrate the regulatory framework for the nation’s largest banks.

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency.

Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year.

The Federal Reserve’s beige book survey indicates the economy is expanding as household loan demand declines.

The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.

The central bank is beginning to consider the possibility of a “digital dollar,” which will foster more efficient and transparent payments.