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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President Biden asked that Congress pass measures that would expand the Federal Deposit Insurance Corp.'s ability to claw back compensation from the executives of failed banks, among other measures.
March 17
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Treasury Secretary Janet Yellen took the first step of walking back an implicit guarantee by the U.S. government that other banks would see their depositors fully backstopped should the bank fail.
March 16
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Sen. Sherrod Brown, chairman of the Senate Banking Committee, said in a letter to regulators that they should consider the role of social-media-led coordination among depositors.
March 16
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The new fees based on the DTI, which lenders have said is too likely to vary throughout the origination process for a single loan, will now go into effect in August.
March 15
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After the failure of two banks between $100 billion and $250 billion of assets, many are asking regulators to change their oversight practices for these banks. The Fed has a wide berth to make a wide array of changes.
March 14
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Maxine Waters, the top Democrat on the House Financial Services Committee, says she's confident some of the issues surrounding the failures of Silicon Valley Bank and Signature Bank will require legislation.
March 14
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Sen. Elizabeth Warren, D-Mass., said that former Silicon Valley Bank CEO Greg Becker's assurances to Congress about the bank's safety in 2015 "now look nefarious."
March 14
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As written, new capital standards for U.S. banks fail to account for the additional risk posed by many home loan clients who obtain second mortgages. Fixing the problem will significantly reduce the rule's benefit to banks.
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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.
