Policy & Regulation

The Fed chief said that with its Main Street Lending Program, the central bank has “done basically all of the things that we can think of.”

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database.

As the Federal Reserve's FedNow instant payments and settlement system enters into testing and use-case development phases, an emphasis on speed to market, ubiquity and compatibility with other systems remains in the forefront.

Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.

The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.

Matthew Raphaelson, Kenneth Zimmerman and Tracy Kidd, all of whom were senior executives in the company’s consumer banking unit, have agreed to pay six-figure fines in connection with Wells Fargo’s unauthorized account scandal.

Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice.

The OCC is trying to seize jurisdiction by arguing that current supervision is haphazard. But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation.

The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas.