Banking Politics & Policy News
American Banker's Politics & Policy coverage delivers news and analysis on how legislative action, federal agency rulemaking, regulatory politics, and public policy debates shape banking strategy, risk, competition, and compliance. Coverage explores congressional priorities, executive branch initiatives, regulatory agency actions, and the political forces that shape and impact the operating environment for financial institutions, payments companies, fintechs and distributed finance companies.
Bank leaders must navigate a dynamic policy environment where congressional action, regulatory priorities, and political forces influence capital standards, supervisory expectations, digital asset frameworks, deposit insurance, consumer rules, and competitive dynamics.
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Consumer Financial Protection Bureau Director Rohit Chopra pushed back against a new argument posed by Senate Republicans that the bureau may only be funded if the Federal Reserve earns a profit.
June 12
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Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.
June 11
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An interchange provision included in Illinois' budget bill could force banks and payment processors nationwide to revamp their payments infrastructure, lobbying groups for the industry say.
June 10
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A scheduling conflict will prevent Federal Deposit Insurance Corp. Chair Martin Gruenberg from attending a House hearing on workplace misconduct allegations despite ongoing GOP scrutiny and prior calls for his resignation.
June 10
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Sen. Elizabeth Warren, D-Mass., a powerful member of the Senate Banking Committee's progressive wing, said that the Federal Home Loan banks have "failed to deliver on their housing and community development mission."
June 7
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Comerica Bank has agreed to a proposed settlement of fraud claims after denying refunds to Direct Express beneficiaries who alleged money was stolen from their prepaid accounts. In the past month, beneficiaries have been sent postcards announcing the settlement.
June 7
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Acting Comptroller of the Currency Michael Hsu Thursday said AI providers and end-users — including banks — should share responsibility for errors that derive from artificial intelligence models.
June 6
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As stablecoins and other cryptocurrencies enter the mainstream, lawmakers in Illinois have imposed a new transaction tax on digital assets. It will raise costs for everyday consumers and drive away businesses.
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Yes, banks' capital burden will decline, leaving more potential funds available for lending. But the big question is which banks will find a way to deploy those funds to generate meaningful returns.
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Restrictions that limit access to private market investments are harmful to ordinary investors, who are denied better returns. They also seal off a large potential source of funding for long-term infrastructure investments.
