Opinions

Martin Gruenberg, who became acting chairman of the Federal Deposit Insurance Corp. this week, has named a chief of staff, chief operating officer and general counsel. Their predecessors stepped down last week along with former Chair Jelena McWilliams.

Stablecoins are unlikely to be the future of payments despite their growing market value in the last two years, according to a Federal Reserve Bank of New York blog post.

Martin Gruenberg, who on Monday took the reins of the agency for the third time, vowed the Federal Deposit Insurance Corp. would set tougher standards for bank mergers, cryptocurrency-related activities and risk management tied to climate change. It will remain committed to CRA reform and support for minority banks, he said.

The U.S. Treasury Department is looking more closely at potential money laundering and the financing of terrorism through trading high-value art.

The work of creating a possible digital dollar inched ahead Thursday with research by the Federal Reserve Bank of Boston into the code that could eventually support such a currency.

The White House's pick for vice chair for supervision, Sarah Bloom Raskin, took the brunt of criticism from Republicans on Thursday. But it seemed to do little to sow doubt among the Senate Banking Committee's moderate Democrats about Raskin or fellow nominees Lisa Cook and Philip Jefferson.

Republicans have knocked Sarah Bloom Raskin as too liberal on climate change and Lisa Cook as underqualified ahead of a Senate Banking Committee hearing Thursday. Meanwhile, a Democratic senator's illness threatens to stall nomination votes in the full chamber.

Treasury Secretary Janet Yellen said it’s too early to contemplate adjusting capital requirements for U.S. banks based on how much risk they face from climate change.

Democratic Sen. Joe Manchin praised all five of President Biden's nominees for the Federal Reserve, an important signal for their confirmations in the 50-50 Senate.

In her last week in office, the Federal Deposit Insurance Corp. chair discusses why she worries about the dwindling number of community banks and minority-owned banks, why she has made serving low-income communities a priority during her tenure, and what she might do next.