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Wall Street lenders are calling on the U.S. government to hold off on launching a digital dollar, arguing that a virtual currency backed by the Federal Reserve risks draining hundreds of billions of dollars out of the banking system.
May 23
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Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.
May 19
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The Biden administration’s pick for Federal Reserve vice chair for supervision faced questions about climate change, digital assets and the central bank’s independence. But he did not meet the same resistance from Republicans as the White House’s first choice, Sarah Bloom Raskin, observers said.
May 19
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The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
May 18
K.H. Thomas Associates -
The Federal Deposit Insurance Corp. and the Consumer Financial Protection Bureau are taking steps to crack down on cryptocurrency and other fintech companies that improperly suggest their products have deposit insurance.
May 17
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The Senate voted 80-19 Thursday to confirm Powell to the top spot on the Federal Reserve Board of Governors. He joins Philip Jefferson, who was confirmed by the Senate to serve on the board Wednesday night, and Lisa Cook, who was confirmed Tuesday night.
May 12
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The Consumer Financial Protection Bureau is hiring more enforcement attorneys, building out its capacity for data collection related to fair-lending exams.
May 12 -
The Michigan State University economist endured a grueling political fight over her nomination and secured a party-line vote in her favor on Tuesday night.
May 11
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In order to align financial policy with the interests of consumers, the agency should consider why these services have caught on — and remember to keep a lane open for innovation.
May 11
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Roughly 24,000 people had new foreclosures listed on their credit reports in the first quarter, up from about 9,000 three months earlier, a Federal Reserve Bank of New York report says. States are trying to cushion the blow on homeowners now that many pandemic-related federal protections have ended.
May 10
