Opinions

President Biden is seriously considering Michael Barr, a Treasury Department veteran and an architect of the Dodd-Frank Act of 2010, as the Fed’s chief banking supervisor, according to people familiar with the matter.

A new Consumer Financial Protection Bureau lawsuit claims the credit bureau and the ex-leader of a key unit failed to comply with a 2017 order to stop misleading consumers about credit reporting and monitoring services.

Former Federal Reserve Vice Chair for Supervision Randal Quarles and former Fed Gov. Daniel Tarullo say the central bank's top regulatory role insulates the board from allegations of political bias. Otherwise, the agency and its staff have to account for their regulatory decisions.

More than a year into his administration, President Biden has either vacancies or acting heads of each of the bank regulatory agencies. That may not be ideal, but the White House doesn't seem to be eager to put forth permanent replacements.

The acting comptroller pushed back against a key feature of Sen. Pat Toomey’s stablecoin proposal, and the idea that stablecoins could be regulated as money market funds

The Federal Reserve permanently banned a former Goldman Sachs Group managing director from the financial industry for improperly using and disclosing the regulator’s bank-supervision information.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

Credit unions were unable to garner enough support for a bill that would allow them to hold funds for government agencies in the Centennial State.

Even as the Biden administration ramped up sanctions against Russia on Wednesday, Treasury Secretary Janet Yellen faced questions from Republican lawmakers who want to go further. Yellen, meanwhile, stressed the value of working together with allies.

The Philadelphia bank, headed by Vernon Hill, is already fighting two lawsuits from activist shareholder groups. It also risks being delisted by NASDAQ for indefinitely postponing the meeting.