Opinions

The nonprofit received a $1.5 million grant to monitor, evaluate and strengthen consumer protections in the digital financial marketplace. Here's what it's doing with the funds.

The Federal Reserve Board would become far more diverse if Sarah Bloom Raskin, Philip Jefferson and Lisa Cook are confirmed by the Senate. Jefferson and Cook are respected economists seen as likely to get the nod, but Republicans will challenge Raskin's assertions that bank regulators can play a vital role in combating climate change.

President Biden will nominate Sarah Bloom Raskin to be the Federal Reserve’s vice chair for Supervision and Lisa Cook and Philip Jefferson to be governors. The selections keep a Biden promise to improve diversity at the Fed.

Fed Gov. Lael Brainard, President Biden's nominee for Federal Reserve vice chair, sought to assure GOP members of the Senate Banking Committee she favors a more limited supervisory approach that would help larger banks identify pockets of risk in their loan portfolios.

Jerome Powell sought to strike a political balance at his reconfirmation hearing. He assured Republicans the Federal Reserve wouldn't overstep its authority on bank mergers and other matters, while telling Democrats the central bank has a responsibility to monitor financial stability and the risks of climate change.

Federal Reserve Vice Chair Richard Clarida intends to resign from the board of governors on Jan. 14, two weeks before his term is due to expire.

Central bankers need to speak up about economic barriers prompted by racism and the need for inclusion and diversity, Federal Reserve Bank of Atlanta President Raphael Bostic said, a response to critics who see the work as a distraction from the Fed’s main goals. 

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

While some in the industry support the change, mortgage broker trade group AIME called on the agency to reconsider it.

Sarah Bloom Raskin, reportedly the Biden administration's top candidate for vice chair of supervision, would toughen the Federal Reserve's stances on the role of banks in combating climate change, capital requirements, the Volcker Rule and other policy areas, experts say.