Opinions

The Federal Reserve has hired five executives from the stablecoin issuer Circle and at least one employee of Ripple since 2019 as part of its technology-focused recruiting efforts. It plans to do more hiring in the years ahead to aid its work on faster payments and central bank digital currencies.

Interest in digital assets is on the rise following an executive order from the White House and a recent report from the Fed.

The Office of the Comptroller of the Currency recently decided to put an official in charge of the rising number of small and midsize national banks that partner with fintechs or have nontraditional business plans. The agency’s goal is to establish a team that understands cutting-edge technologies and establishes consistent oversight policies in response.

The White House says the president will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act, as the central bank's vice chair for supervision.

Banks have supported initiatives aimed at closing the racial equality gap but the industry risks undermining this by fighting new rules to gather demographic data on small-business lending.

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