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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The Federal Reserve governor was one of two to vote against issuing the so-called Basel III endgame proposal. He says work is being done to address issues with the operational risk framework, but that regulators may need to go back to the drawing board for an adequate fix.
January 16
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A coalition of financial trade groups issued a joint comment letter asserting that the federal bank regulators' proposed capital rule lacked justification and evidence required by the Administrative Procedure Act, threatening legal action if regulators don't delay and significantly amend the rule.
January 12
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Navy Federal, the nation's largest credit union, is facing a lawsuit about its allegedly discriminatory mortgage lending practices.
January 12
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The internal watchdog called for new standards for staff handling of controlled unclassified information.
January 11
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The Senate on Wednesday fell short of the two-thirds majority needed to override President Biden's veto in December of a Republican-led resolution to gut the small-business data collection rule using the Congressional Review Act.
January 11
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John Williams, who also serves as vice chair of the Federal Open Market Committee, does not expect the Federal Reserve to slow its balance sheet runoff anytime soon.
January 11
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Republican lawmakers spelled out concerns that the Financial Stability Oversight Council's ability to designate nonbank financial companies as systemically important could circumvent the lawmaking process when it comes to cryptocurrency.
January 10
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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.
