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 bank hasn't managed debt sales in Texas since a measure took effect in 2021 that bars governmental entities from working with companies that "discriminate" against firearms businesses. BofA's "current risk-based framework and policies" can comply with that law, a lawyer for the bank has told the state.
June 27
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A report from the Treasury Department's Federal Insurance Office urges state regulators to spruce up their toolkits for monitoring and mitigating the impact of climate change on homeowners insurance.
June 27
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The European Cental Bank recently urged banks it supervises "to speed up their downsizing and exit strategies by adopting clear road maps" and regularly reporting on progress, according to Andrea Enria, who leads the ECB's supervisory board.
June 27
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The heads of the Federal Reserve and Federal Deposit Insurance Corp. say upcoming capital proposals won't be implemented for years, but banks tend to move fast to get ahead of upcoming changes.
June 26
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The instant-payments rail, which was set to go live this month, has postponed its launch indefinitely. Experts say it's having trouble keeping the interest of the country's major banks.
June 26
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The legislation has support among Republicans, who hold a slim majority in the chamber.
June 23
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New legislation from Rep. Sean Casten, D-Ill., would impose various requirements and consequences on large banks that don't have a chief risk officer. It follows the failure of Silicon Valley Bank, which left the job unfilled for eight months last year.
June 22
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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.
