Opinions

University of Chicago economist Austan Goolsbee previously served as chair of the White House Council of Economic Advisers during the Obama administration.

FTX's previously unknown ties to the banking system have raised questions about crypto's reach in traditional finance.

Dianne Dobbeck, head of the Federal Reserve Bank of New York's supervision group, said the banking system is sound, but potentially destabilizing risks must be monitored and addressed.

The Federal Deposit Insurance Corp. acting Chairman Martin Gruenberg suggested that could decrease in future quarters as market pressures push up the interest that banks need to pay for consumer deposits.

Acting Federal Deposit Insurance Corp. Chairman Martin Gruenberg was described even by Republicans as well qualified and experienced, but took heat for a year-old drama that led to the departure of the agency's former chairman.

The Federal Deposit Insurance Corp. lacks a board member with state banking regulatory experience as required by law, the Conference of State Bank Supervisors says. None of President Biden's picks — including acting Chair Martin Gruenberg — meets that criterion.

Revelations about the failed cryptocurrency exchange FTX's inroads into the banking system raise important questions about how limited the crypto crash really is.

John Williams, the president of the Federal Reserve Bank of New York, praised the Fed's new guidelines for granting fintechs and other nonbanks access to the payment system. He also echoed calls for new rules to govern stablecoins and cryptocurrencies.

As the central bank considers publishing a list of account holders and applicants, parties on both sides of the industry would like it to go even further.

After a judge dismissed a lawsuit brought under the anti-predatory-lending law, the Consumer Financial Protection Bureau and the Federal Trade Commission are urging an appeals court to reverse the ruling. They argue that lenders have little incentive to comply with the 2006 law if the threat of being sued gets diminished.