Opinions

The Federal Reserve governor said it isn't the central bank’s place to set regulations for specific risk scenarios, and he downplayed the risk that climate change poses to financial stability.

A bipartisan group of senators Tuesday urged the Treasury Department and the Financial Crimes Enforcement Network to speed up implementation of the Corporate Transparency Act. It's only the latest of several efforts by lawmakers urging regulators to move faster since Fincen missed the statutory implementation deadline in January.

Senate Democrats plan to hold votes to confirm Lisa Cook’s nomination to be a Federal Reserve governor on Tuesday, they announced Monday night.

The Federal Reserve's semiannual financial stability report identified the conflict in Eastern Europe as the source of several key risks. Overall, it assessed the banking sector as more resilient than six months ago.

In its semiannual supervision and regulation report, the central bank cited strong balance sheets and liquidity but found risks for smaller banks.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

The Federal Open Market Committee started its hiking cycle in March and everyone expects another increase when it meets May 3-4. Speculation is the FOMC will lift rates a half-point at that meeting. Steve Skancke, chief economic adviser at Keel Point and former White House and Treasury Department staff member, will discuss the FOMC decision and the panel’s next steps in fighting inflation.

While some American lenders have started to exit the region, the overall impact on their operations has been moderate, the central bank said in its semiannual Supervision and Regulation Report.

He faces critics from both the left and the right, which is why he’s the right person for the job.

Angela Garcia, who was accused of embezzling $69,000 from the Georgia bank, has been banned from the banking industry.