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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After a slow start, the Federal Reserve got its efforts to combat runaway inflation up to speed quickly, implementing tightening monetary policy at the fastest rate seen in decades. Here's a hike by hike breakdown.
December 28
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After years of deliberation and controversy, 2022 will be remembered as the year the global financial system replaced the Libor interest rate benchmark, the last vestiges of which sunset in 2023.
December 22
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The confirmation of Martin Gruenberg to chair the Federal Deposit Insurance Corp. is the final chapter of the political fracas surrounding former chair Jelena McWilliams' departure. But it also means he could be outvoted if a Republican takes the presidency in 2024.
December 21
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On issues from guns and abortion to climate change to corporate diversity, banks that have been trying to satisfy progressive groups felt blowback this year from right-leaning organizations and Republican officials.
December 21
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The legislation, co-sponsored by six other Republicans, would apply federal lobbying and vacancy rules to regional Federal Reserve banks and close seven of the 12 existing banks.
December 21
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Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
December 20
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The bill will require the agency to codify the use of desktop appraisals.
December 20
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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.
