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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Nineteen Democratic lawmakers proposed a ban on buy now/pay later loans to finance semiautomatic weapons that would include levying hefty fines on companies that enable the transactions and dealers that accept them.
June 22
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FDIC Chairman Martin Gruenberg announced that regulators will soon issue a proposed rule to finalize U.S. implementation of the most recent revisions to the Basel III capital framework. Among the expected updates are changes to capital requirements for banks with assets of more than $100 billion, three of which failed this spring.
June 22
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The Consumer Financial Protection Bureau issued two reports analyzing banking and consumer credit trends in the South, where many rural areas are considered "banking deserts."
June 21
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The chairman of the Federal Reserve told the House Financial Services Committee that no decisions have been made about regulatory changes, but whatever does come to pass will take time to implement.
June 21
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Philip Jefferson, a current Federal Reserve Board member, is President Biden's nominee to be vice chairman of the central bank. At a Senate hearing, he gave measured responses to questions about the potential for heightened regulation of midsize banks.
June 21
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The Senate Banking Committee sent the bill led by the panel's chairman, Sherrod Brown, D-Ohio, and ranking member Tim Scott, R-S.C., to the full Senate in a 21-2 vote.
June 21
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Senate Banking Committee Chairman Sen. Sherrod Brown, D-Ohio, and ranking member Sen. Tim Scott, R-S.C., will have to contend with members of their own parties who would prefer a more sweeping executive compensation clawback bill.
June 20
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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.
