Policy & Regulation

Acting Comptroller of the Currency Rodney Hood suggested Tuesday that regulators should consider raising the dollar amount for mandatory suspicious activity reporting and revising the Herfindahl-Hirschman Index to advance bank mergers.

Banking regulation doesn't need to mimic the hyper-partisan nature of today's politics. A balanced FDIC board would confer legitimacy on any efforts by the Trump administration to overhaul financial-services regulation.

The Trump administration has installed Jeffrey Clark at the Consumer Financial Protection Bureau. Clark, a former environmental lawyer in the Justice Department in the first Trump administration, was indicted as part of the president's efforts to overturn the 2020 election.

The Federal Reserve appears to be on hold, waiting for clarity on inflation and fiscal policy. The March 19th Federal Open Market Committee meeting, with a new Summary of Economic Projections will illuminate members' revised thoughts on interest rates. Join us March 20 at 12:00 pm as Mike Goosay, Chief Investment Officer of Global Fixed Income at Principal Asset Management, breaks down the meeting, Chair Powell's press conference and the SEP.

Federal Reserve Chair Jerome Powell said reserve banks will no longer factor "reputational risk" into master account decisions. The crypto industry is encouraged by the commitment, but says more changes are needed.

Consumer and employees groups are seeking a restraining order against CFPB acting Director Russell Vought, arguing that he was unlawfully installed and has "no power to direct" the bureau.

On Thursday night, the Trump administration fired dozens of employees at the Consumer Financial Protection Bureau, according to an email obtained by American Banker. Most of the workers targeted had been hired by former CFPB Director Rohit Chopra.

The mayor and city council of Baltimore, along with a Maryland-based economic justice group, are suing the bureau and its acting director, claiming that the recent decision to "defund" the CFPB will leave it unable to support communities.

While executives this week signaled they could accept policies that put pressure on the economy, analysts said the lighter regulatory touch is unlikely to offset Trump's tariff regime.

The rule requiring businesses to report their beneficial ownership is deeply flawed. Enforcement should be suspended until it can be revised to place fewer burdens on law-abiding people and companies.