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 World Bank director and former top Labor Department economist will become the first Fed governor of Hispanic descent and will give the board a full compliment of members since former vice chair Lael Brainard resigned in February.
September 7
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The settlement resolves allegations dating to 2014 and covers 85 minority employees who alleged they were paid lower wages than their white counterparts and faced retaliation.
September 6
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Philip Jefferson was the Biden administration's pick for the Fed's number two position following the departure of Lael Brainard earlier this year. Two more Fed nominees are expected to get confirmation votes this week.
September 6
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Cannabis banking, the Durbin-Marshall credit card bill and executive compensation legislation could be on the agenda this fall, but banking regulators' Basel III endgame proposal has made bipartisan compromise more complicated.
September 5
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Two related cases the Supreme Court is considering hing on whether state laws preempt the National Banking Act on the payment of interest on mortgage escrow accounts.
August 31
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Banks have offered a more tepid critique of regulatory proposals to expand resolution planning and long-term debt for regional banks, suggesting the industry is intent on curbing July's Basel III capital proposal instead.
August 31
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(Bloomberg) — US officials are looking at ways to give a broader swath of financial firms, including nonbank mortgage lenders, the ability to borrow from Federal Home Loan Banks.
August 31
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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.
