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The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.

The legislation, which the chamber passed Thursday, would ban collectors from making threatening statements to military service members and prevent credit bureaus from including debt arising from certain medical procedures.

Chairman Jelena McWilliams said the agency will issue a request for information "to learn more about what banks are doing, what banks are considering doing and what, if anything, the FDIC should be doing in this space.”

The Treasury Department announced that Michael Hsu, a senior official at the Federal Reserve, would lead the national bank regulator until a Senate-confirmed comptroller is in place.

The Federal Reserve said its regional banks should consider whether nontraditional financial companies meet the requirements of certain federal statutes and present “undue” risk to the financial system before granting access.

The industry has raised concerns about nontraditional bank owners, and some lawmakers have backed limits for industrial loan companies and cryptocurrency firms. But members of the House and Senate have been unable to reach a consensus on legislation.

A senior White House economic aide said the decision on selecting the next central bank chief will come after a thorough “process.”

The head of the Federal Reserve appeared to support Congress’s expanding the scope of the Community Reinvestment Act to unregulated institutions, just as regulators weigh how to modernize the framework for banks.

Treasury Secretary Janet Yellen plans to name Michael Hsu, associate director of bank supervision at the Federal Reserve, to be the acting comptroller of the currency, according to The Wall Street Journal.

The Federal Reserve's top supervisory official, Randal Quarles, says regulators need to get a stronger grasp of digital currencies in order to supervise them. His comments Thursday follow reports that several large banks have started offering clients the ability to invest in bitcoin funds.

Federal Reserve Chair Jerome Powell is dismissing claims that loose monetary policy has led to rising home values and shrinking inventory and insists that the market is buoyed by creditworthy borrowers and investors.

It would be available to homeowners making 80% or less of their area’s median income who weren't eligible to tap into low rates last year.

The Senate Banking Committee chairman told an audience of community bankers that he supports legislation to close "chartering loopholes" for industrial loan companies and financial technology firms. He also pitched a plan to give all consumers a free digital wallet backed by the Federal Reserve.

Eighteen months after launching Second Chance in Chicago, JPMorgan is bringing the recruitment effort to Columbus, Ohio.

Federal Housing Finance Agency Director Mark Calabria said he wants to work with the consumer bureau on an “exit strategy” for borrowers approaching the end of their forbearance periods.

The central bank should consider using a tool requiring higher capital amounts when times are good rather than offering temporary regulatory relief in a downturn, said Boston Fed President Eric Rosengren.

The Financial Stability Oversight Council has struggled to find its footing since its creation in Dodd-Frank. The Treasury secretary has signaled a more aggressive role for the panel, including reviving its authority to target nonbank behemoths.

Senate Banking Committee Chairman Sherrod Brown asked banks involved with Bill Hwang’s Archegos Capital Management to explain their role in the firm’s implosion.

In his annual message to investors, the JPMorgan Chase CEO said Big Tech and fintechs are "here to stay" and vowed to be aggressive in taking on these new challengers. He also predicted that the economy would take off this year, but said capital rules prevented banks from doing more to help blunt the impact of the pandemic recession.

In his annual letter shareholders, JPMorgan Chase CEO Jamie Dimon said banks are facing "enormous competitive threats — from virtually every angle."