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The Senate Banking Committee for the second time has advanced Ron Borzekowski's nomination to lead the Office of Financial Research in the Treasury Department. The nomination languished amid partisan opposition last year.
March 7 -
Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.
February 8 -
Republican lawmakers spelled out concerns that the Financial Stability Oversight Council's ability to designate nonbank financial companies as systemically important could circumvent the lawmaking process when it comes to cryptocurrency.
January 10 -
Treasury Secretary Janet Yellen said Monday the agency's Financial Crimes Enforcement Network has received over 100,000 entries for its beneficial ownership information registry, and will set additional regulations to address money-laundering risks in real estate transactions early this year.
January 8 -
Sen. Jack Reed, D-R.I., also brought up concerns with synthetic risk transfers and so-called shadow banks, which he said are shifting risk from outside the banking system into private credit markets.
December 14 -
A report from the Treasury Department's Federal Insurance Office urges state regulators to spruce up their toolkits for monitoring and mitigating the impact of climate change on homeowners insurance.
June 27 -
Treasury's plan to overhaul the certification process for community development financial institutions will benefit the communities served by those institutions.
June 22Raza Development Fund -
Citi research strategists say crypto markets were not immune to fears of the U.S. defaulting on its debt.
June 2 -
Curt Farmer, CEO of the Dallas company, defends its management of a Treasury Department program that provides federal benefits on prepaid cards. He says a recent American Banker investigative article "ignores the fact that Comerica took steps to protect Direct Express users when it became aware that a third-party vendor had not followed program protocols for reviewing customer inquiries."
June 1Comerica Inc. and Comerica Bank -
Comerica's shoddy handling of its Treasury contract to manage Social Security and veterans benefits — including outsourcing fraud claims to a vendor in Pakistan — is emblematic of how the banking industry treats the poor.
May 30American Banker