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Widely perceived as the architect of the Consumer Financial Protection Bureau, Massachusetts Sen. Elizabeth Warren used the occasion of the agency's 10th anniversary to call for more robust oversight of cryptocurrency and banks' overdraft practices.
July 19 -
Treasury Secretary Janet Yellen will convene top U.S. financial-market and bank regulators on Monday to discuss rules for so-called stablecoins, a key part of the cryptocurrency market where government officials are increasingly fretting about a lack of oversight.
July 16 -
Rohit Chopra, President Biden’s pick to head the Consumer Financial Protection Bureau, is expected to be the type of aggressive leader the agency had at its inception. Is that what consumers need?
July 16 -
Rep. Patrick McHenry, the ranking GOP member of the House Financial Services Committee, requested a hearing with Dave Uejio to address policy actions “traditionally ... reserved for a Senate-confirmed Director.”
July 16 -
Sens. Sherrod Brown and Elizabeth Warren criticized Federal Reserve Chair Jerome Powell over reg relief policies instituted by the central bank, signaling that some progressive lawmakers may be reluctant to give him a second term.
July 15 - AB - Policy & Regulation
As the Federal Reserve mulls whether to establish its own digital currency, Chair Jerome Powell told lawmakers that cryptocurrencies designed to have the stability of bank deposits and money market funds should be regulated accordingly.
July 14 -
The president has a chance to make his mark on the central bank as the terms of Federal Reserve Chair Jerome Powell and Vice Chair of Supervision Randal Quarles near their end. He will face pressure from progressives to pick reform-minded leaders, while moderate Democrats and Republicans in the narrowly divided Senate might favor reappointing Powell.
July 14 -
U.S. Treasury Secretary Janet Yellen signaled she’ll prod multilateral development banks to rein in their lending for fossil fuels, part of a global effort to make the financial system greener.
July 12 -
The Federal Housing Finance Agency recently became the third agency along with the Office of the Comptroller of the Currency and Consumer Financial Protection Bureau without a Senate-confirmed leader. But analysts say the appointment of interim chiefs gives the administration even more control over regulatory initiatives.
July 9 -
Fed Vice Chairman for Supervision Randal Quarles says the benefits of a central bank digital currency are “unclear,” and that a digital dollar could actually “pose significant and concrete risks.”
June 28 -
The House has passed legislation that would make financial institutions report credit application data relating to LGBTQ-owned businesses to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws.
June 25 -
President Biden removed Mark Calabria as Federal Housing Finance Agency director hours after a Supreme Court ruling made the move possible. The administration is expected to offer up a nominee who will prioritize affordable housing and racial equity in housing instead of reforming Fannie Mae and Freddie Mac.
June 23 -
The House Financial Services Committee passed a bill along party lines to require global systemically important banks to submit new annual reports on activities to the Fed.
June 23 -
A majority of the justices concluded that the law establishing the Federal Housing Finance Agency violated the Constitution when it said a president may only remove the agency's chief "for cause."
June 23 -
The huge buffers that banks built up over the pandemic are protecting the financial system from looming threats, regulators told President Biden during a meeting that also touched on climate change, extension of credit to the underserved and other topics.
June 22 -
A congressional hearing on reforming the National Flood Insurance Program focused on whether mortgage companies need to disclose incremental risks even if a homeowner lives outside a federally designated floodplain.
June 17 -
Federal Reserve Chairman Jerome Powell said the market dislocations of the past year resulting from the pandemic had changed the impact that the supplementary leverage ratio was having on the largest banks. After temporarily easing the requirement, the central bank is considering longer-term reforms.
June 16 -
By 2023, the Federal Reserve expects to launch a service that would allow businesses and consumers to complete payments in real time. But a digital currency it's now studying could have similar benefits — while potentially removing the need for bank intermediaries.
June 15 -
Randal Quarles, the Federal Reserve's vice chair for supervision, says the central bank was wise not to require banks to build capital cushions in the lead-up to the pandemic. But that decision rested on a misleading a narrative and could wind up threatening the economic recovery.
June 14
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The Federal Housing Finance Agency said it is reviewing compensation policies for Fannie Mae and Freddie Mac and requesting feedback from the public. Some have said the $600,000 limit for executives imposed by Congress makes it hard to find talent.
June 10
![“Even in the face of...opposition from politicians and from industry, the agency survived [the Trump administration] and stayed strong, in part because it is built right," Sen. Elizabeth Warren, D-Mass., said of the CFPB.](https://arizent.brightspotcdn.com/dims4/default/d94cc1d/2147483647/strip/true/crop/5795x3260+0+301/resize/1280x720!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2F73%2F8b%2Ff7e050bd44529ac3c4914f3a9781%2Fwarren.jpg)
















