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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A group of Democratic lawmakers led by Sen. Elizabeth Warren, D-Mass., wrote to regulatory agencies urging them to complete capital rules, just as Treasury Secretary Janet Yellen suggested bank deregulation has gone too far.
March 30
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The Federal Reserve and Treasury Department fined the San Francisco-based bank for allegedly helping a foreign bank skirt sanctions on more than half a billion in transactions between 2010 and 2015.
March 30
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Acting Comptroller of the Currency Michael Hsu urged the banking industry to not let safety and soundness concerns overshadow fairness in banking, which he said is an equally crucial aspect of market stability.
March 30
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Yellen focused on the danger of "fire sales," where panic spurs investors to dump assets at prices below their fair value. Among the targets needing attention are non-bank financial intermediaries, from money-market funds and hedge funds to digital asset providers.
March 30
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Jelena McWilliams, who chaired the agency during the Trump administration, said removing the cap on insured deposits would impact the banking sector in three key ways.
March 29
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Federal Reserve Vice Chairman for Supervision Michael Barr said that regulators and bank management failures contributed to the bank collapses, but insisted rescue of uninsured deposits was warranted.
March 29
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The new foreclosure prevention option will be available for servicers' use on a voluntary basis starting on July 1 and will become mandatory in situations where it's appropriate for borrowers beginning Oct. 1.
March 29
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The only thing we know about the next financial crisis is that it won't look like the last one. But specific changes to bank safety and soundness requirements and clearer regulatory authorities would help us respond.
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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.
