Opinions

The Basel capital rules long ago proved themselves to be ineffective and unwieldy. A former FDIC chairman said that history offers us a better alternative in the form of a regulator-centric model rooted in a pre-Basel approach to oversight.

Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead.

Federal Reserve Bank of New York President John Williams said he's seen enough data to be comfortable with a rate cut at the Federal Open Market Committee meeting later this month.

The Consumer Financial Protection Bureau is seeking to protect borrowers from unscrupulous loan servicers. The goal is laudable, but the agency's methods are misguided.

The central bank has been under pressure to modernize its last-resort lending operation since the failure of three large regional banks last year.

The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.

Since launching in summer 2023, the government-backed instant settlement network has attracted hundreds of financial institutions, but there is still room for growth.

Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.

The increase would "ensure that the wealthy and big corporations pay their fair share" at a level that also "rewards investment in America's innovators, founders and small businesses," Harris said.

The Federal Reserve Bank of Atlanta president said the two mandates are in balance for the first time since 2021, although he is "not quite prepared" to declare victory over inflation.