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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Bankers largely support expanding government-backed farm loan programs, and in general support continued funding for crop insurance. But politics is making swift passage of a traditionally uncontroversial bill challenging.
September 18
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A recent report by the Office of the Inspector General for the Federal Deposit Insurance Corp. suggests that while the FDIC's strategic plan for economic inclusion is satisfactory, it could be improved by formalizing procedures, self-evaluations and gathering more input from banks.
September 18
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The ruling comes in a lawsuit New York Attorney General Letitia James filed in 2020, claiming Jonathan Braun and others made thousands of merchant cash advances to small businesses, charged annualized interest that sometimes exceeded 1,000% and defrauded and harassed borrowers.
September 18
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Treasury's Financial Crimes Enforcement Network said most small businesses will need to report information about their beneficial owners at the start of next year; certain financial and government entities are exempt because of their preexisting regulatory requirements.
September 18
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In the absence of any federal cover to provide banking services to cannabis businesses, banks have developed strategies to service those customers anyway. But experts are divided on whether that adaptation obviates the need for comprehensive federal legislation like the Secure and Fair Enforcement Act.
September 17
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The Senate Banking Committee is expected to mark up the Secure and Fair Enforcement Act, or SAFE Banking Act, the week of Sept. 25.
September 15
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While proponents of a central bank digital currency tout modernity and financial inclusion, House Financial Services Committee members of both parties fear lending could suffer under a digital dollar and are wary of handing the Federal Reserve even more power.
September 15
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In the year of the country's 250th anniversary celebrations, it's worth looking back at the long road the U.S. dollar took to global dominance, and the lessons we can learn from it.
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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.
