Person Root Tag

Former Commodity Futures Trading Commission Chairman Gary Gensler and KeyBank NA executive Don Graves have been tapped to examine financial regulators as part of Joe Biden’s presidential transition, according to a person familiar with the matter.

Opening a bank or investment account — or even securing employment in a racism-free workplace — is out of reach for many Black Americans.

President-elect Joe Biden's victory over incumbent Donald Trump will end four years of Trump-led isolationist policies, but the balance in Congress is still uncertain and could stall the President-elect's agenda.

With a Democrat set to take the White House in January, the political balance at NCUA could shift amid changes for the CFPB and housing reform, and progressive banking ideas that were unthinkable over the past four years could gain traction.

With a Democrat set to take the White House in January, the agenda for agencies like the CFPB could undergo a rapid transformation, housing finance reform could be turned on its head and progressive banking ideas that were unthinkable over the past four years could gain traction.

A final Senate breakdown still depends on the outcome in a few key races, but with Republicans closer to keeping power, Democrats' proposals to cap interest rates, create a postal banking system and establish a public credit reporting agency are likely dead on arrival.

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.”

As the presidential voting count waged deep into the night on Tuesday, the fate of fintech, financial services and payments regulation hung in the balance.

Control of Congress was still in play late Tuesday, as the Democrats retained control of the House of Representatives while neither party gained the necessary seats to control the Senate.