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The president will oust Federal Housing Finance Agency Director Mark Calabria, a Trump appointee, now that the high court says the chief executive can do so at will. It's "critical that the agency implement the administration’s housing policies," said a White House official.
June 23 -
The biggest U.S. banks, led by JPMorgan Chase and Bank of America, are expected to pay out $142 billion in capital to shareholders after clearing this year’s stress tests.
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 -
No-fee digital bank accounts subsidized by the Federal Reserve would help community banks draw in new customers and pay for technology upgrades, proponents of the idea say. But it's a hard sell to executives skeptical of government involvement in retail banking.
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 -
The Basel Committee on Banking Supervision issued a proposal this month laying out how banks should treat cryptocurrencies held on their balance sheets. It could give stablecoins, which are tied to traditional assets, an edge over more volatile digital assets like Bitcoin.
June 22 -
President Joe Biden plans to meet with regulators on Monday to discuss the health of the system they oversee and how his administration’s priorities, including on climate change and inclusion, can best be addressed.
June 21 -
A 2017 investigation into the fake-accounts scandal — conducted by the board of directors with a major assist from the law firm Shearman & Sterling — was billed as independent and objective. Was it?
June 21 -
A state regulator group has agreed to pause its lawsuit challenging Figure Technologies’ application as the federal agency reviews chartering policies. But analysts caution that the underlying conflict over nontraditional firms seeking banking powers is far from resolved.
June 18 -
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