The next generation of Senate Banking Committee Republicans has signed on to the latest salvo by Patrick Toomey — who will soon leave Congress — against the Federal Reserve Bank of Kansas City. That means the master accounts issue will live on.

Karl K. Klessig provided a fraudulent loan document and forged a signature in an application last year to acquire control of Golden Pacific Bancorp, according to the Federal Reserve.

Federal Reserve Chair Jerome Powell said the Board of Governors has a limited role in determining which firms are granted master accounts, an emerging point of contention between Congress and the central bank. 

The Federal Reserve has started a hiking cycle that's expected to continue with half-point increases in June and July, Marvin Loh, senior macro strategist at State Street Global Markets, will assess the June Federal Open Market Committee meeting and tell what he expects the panel to do in the future.

Democratic senators led by Bob Menendez urged the Federal Reserve to take a more active role in the selection process of the heads of its regional banks so that more diverse candidates would be considered.

The Community Reinvestment Act has failed to reduce anti-Black racial discrimination in financial services, to lower poverty or to lessen environmental destruction.

U.S. banking giants are poised to return $80 billion to shareholders after this year’s Federal Reserve stress tests, less than last year’s elevated level that followed a pandemic-driven buyback pause.

This is the biggest increase since 1994, and the Federal Reserve signaled it will keep hiking the interest rate until the end of the year.

Between proposed legislation threatening its discretion, a lawsuit challenging its approval process and a bombshell revelation about the only fintech to be awarded one, pressure is mounting on the Fed’s master account policy.

Bank mergers, climate change and fintech rules are instrumental changes that the Center for American Progress is calling for Biden regulators to champion.

After blocking the Biden administration’s first pick for vice chair for supervision, five Republicans on the committee voted to approve Barr, clearing his path to confirmation. 

The creation of a U.S. dollar central bank digital currency is an existential threat to the banking industry and needs to be treated as such.

The top Republican on the Senate Banking Committee said he would vote for Michael Barr to serve as the Federal Reserve’s vice chair for supervision. The committee will vote on Barr this afternoon.

Lauded as the first step toward comprehensive regulation of digital assets, the package hits at the heart of a critical debate between banks and fintechs: Who gets a Fed account?

The supervisory checkups examine the capital resiliency of 34 large banks.

Acting Comptroller of the Currency Michael Hsu lauded the agencies' unified Community Reinvestment Act proposal's focus on climate policies, while Federal Reserve Vice Chair Lael Brainard trumpeted the data-driven aspects of the proposal.

The president invited Jerome Powell to the White House Tuesday and voiced his support of the Federal Reserve’s independence in the fight against inflation. Some see the move as Biden ducking blame for rising prices.

The Federal Reserve is about to start shrinking its $8.9 trillion balance sheet, deploying a second tool along side higher interest rates to curb inflation, though officials don’t know just how effective it will be.

President Biden used a rare meeting with Federal Reserve Chair Jerome Powell to declare that he’s respecting the central bank’s independence — while simultaneously shifting responsibility for taming decades-high inflation ahead of the November midterms.

George's departure will come around the same time that Chicago Fed chief Charles Evans steps down. Both will have turned 65.