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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Nonbanks that refer to "deposits" and "APY" interest payments are drawing scrutiny from regulators, and some observers say Congress needs to clarify what nonbanks can say about their interest-bearing offerings.
March 3
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Democrats on the Banking Committee, led by Sen. Jack Reed of Rhode Island, say the peer-to-peer payments network's customer reimbursement and anti-money-laundering policies need more thorough scrutiny.
March 2
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President Joe Biden's nominee to lead the World Bank said there's sufficient scientific evidence that burning fossil fuels contributes to climate change, seeking to address criticism about the lender's commitment to the issue under its outgoing chief.
March 2
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The Federal Home Loan Bank of San Francisco confirmed Thursday night that Silvergate Bank has "fully repaid" the $4.3 billion it was lent in advances late last year. The bank had said in a regulatory filing that repaying the advances "could result in ... the bank being less than well-capitalized."
March 2
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Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., said that the bill would address some concerns from various regulators, but will steer clear of addressing access to Federal Reserve master accounts.
March 2
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The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.
March 2
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The legislation cleared the panel Tuesday night, but Democratic misgivings mean it faces an uphill climb in the Senate.
March 1
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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.
