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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Acting Comptroller of the Currency Michael Hsu offered more details about forthcoming interagency rules to establish operational risk standards for large banks, including a focus on "critical operations" and third-party service providers.
March 12
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While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.
March 11
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Sen. Bill Hagerty, R-Tenn., and Sen. Elizabeth Warren, D-Mass., sent separate letters to banking regulators on the anniversary of the failure of Silicon Valley Bank, with Hagerty questioning the Federal Deposit Insurance Corp.'s sale of Signature Bank's assets and Warren urging the regulators to tighten capital and liquidity requirements.
March 11
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The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.
March 11
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Regulatory reform – rather than Biden's proposed solutions – is needed to fix the inventory crisis, some say, but others applauded the president's buyer cost-cutting initiatives.
March 8
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In his State of the Union address, President Joe Biden touted the Consumer Financial Protection Bureau's credit card late fee rule, which has sparked litigation from banking groups, and a raft of housing policy initiatives.
March 7
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The lawsuit against the Consumer Financial Protection Bureau was filed just two days after the bureau finalized a rule to cut credit card late fees to $8 from $32.
March 7
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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.
