Policy & Regulation

The Consumer Financial Protection Bureau's open banking rule is supposed to put small banks on a more even footing with their larger rivals. But PNC CEO Bill Demchak says larger banks' advantages in tech and economies of scale will win the day.

The Federal Housing Finance Agency issued guidance to ensure the Federal Home Loan banks are lending based on the credit worthiness of the member bank, not solely on the quality of the collateral.

The Federal Deposit Insurance Corp.'s proposed rule on brokered deposits would be a step backwards for the agency and the industry it regulates.

A report recommends clearer guidelines and enhanced training to prevent conflicts of interest in FDIC acquisitions, which the agency concurred with and agreed to implement.

An amendment to the National Defense Authorization Act would expand access to the Financial Crimes Enforcement Network's beneficial ownership database. That would allow financial firms to cut off drug traffickers' financing.

Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.

After cutting rates 50 basis points in September, the Federal Open Market Committee meets after Election Day to determine monetary policy. Gary Pzegeo, head of fixed income at CIBC Private Wealth U.S., provides his take on the latest move.

While other Washington regulators revise their approaches to merger reviews, the Federal Reserve has made no official change to its framework. The $35 billion merger could demonstrate just how differently the central bank is approaching the issue — if at all.

The new rules on custodial account records could address the issues that the Synapse bankruptcy caused in the fintech world but also could complicate relationships between banks and fintech partners, experts say.

This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she's seen didn't convince her of the need to cut rates as much as her fellow governors thought.