Policy & Regulation

Policymakers need to focus less on how they regulate the banking industry’s cyber defenses and more on how they will protect the financial system from an attack.

The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation.

As it gives its small-dollar lending regulation another look, the agency must consider borrowers who have no other credit options.

Bankers should be careful in their push to deregulate, as efforts to roll back some crisis-era rules will likely add new risks to the financial system.

Sen. Elizabeth Warren said in a series of interviews on Sunday morning political shows that a bill giving banks relief from rules imposed after the 2008 financial crisis could usher in a new round of taxpayer-funded bailouts.

Goldman Sachs CEO Lloyd Blankfein is reportedly considering leaving by the end of this year; American Express plans to reduce its merchant fees to stay competitive.

A provision in the Senate's regulatory relief bill that would give manufactured housing retailers more leeway to make financing recommendations has consumer advocates concerned about potential lending abuses, while the industry contends it simply levels the playing field with real estate agents and homebuilders.

As head of the National Economic Council, Gary Cohn played a key role in helping guide the Trump administration on its financial services policy, including regulatory relief and housing finance reform. Institutions are anxiously watching to see who President Trump picks as Cohn's replacement.

Regulators are working intently on a proposal to reform how they apply the Community Reinvestment Act after previous attempts to modernize CRA policy drew mixed reviews.

Democratic infighting over a bill to curb the reach of the Dodd-Frank Act dominated discussion this past week, but Amazon still made waves in its disruptor role. Also: Our 'Best Fintechs to Work For' debuted.