Policy & Regulation

The National Credit Union Administration is expected to approve its proposed 2019-2020 budget this week, while Congress holds several hearings of interest to CUs.

While they won’t be in position to enact legislation, House Democrats could use their newfound power to spotlight issues that Republicans have largely ignored, including the exploding levels of corporate debt.

The Senate is poised to confirm Kansas Banking Commissioner Michelle Bowman to the Federal Reserve Board. But the nominations for the two other open seats are still in limbo.

The Federal Reserve is paying close attention to how it might regulate artificial intelligence and machine learning, Fed Gov. Lael Brainard said in a speech Tuesday.

Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.

The banking agencies have proposed weakening several liquidity, capital and stress test requirements without considering the cumulative effect of the many changes being undertaken.

Rep. Kyrsten Sinema, D-Ariz., crafted a moderate message and will head to the Senate after having backed legislation providing banks with regulatory relief.

A judge dismissed two of the six counts against the Mass.-based credit union, meaning DFCU will join several other CUs nationwide facing similar suits.

Top executives at Advance America acknowledged that anti-money-laundering concerns at banks were likely the cause of account terminations, even as they publicly blamed a stealth regulatory campaign.

Sen. Sherrod Brown, a longtime industry critic, said Monday that he’s weighing a possible 2020 bid.