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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Legislation to open banking services to marijuana businesses was left out of a must-pass government funding package, ending a year-end effort to move it to President Biden's desk, a person familiar with the decision said.
December 20
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Changes that began at individual banks in 2021 gained steam this year, as many large and midsize banks reduced their reliance on overdraft-related charges. Federal and state policymakers were key catalysts of the sea change.
December 19
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The Senate voted to confirm Martin Gruenberg as chairman of the Federal Deposit Insurance Corp., Travis Hill as its vice chairman and Jonathan McKernan to join the agency's board.
December 19
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Financial institutions have launched tailored relief campaigns to help refugees begin rebuilding their lives.
December 19
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The National Defense Authorization Act passed by the Senate did not include a pot banking provision, but did include provisions on Fed master accounts and allowing banks to hire ex-cons.
December 16
- AB - Policy & Regulation
The outgoing chair of the House Financial Services Committee and Sen. Cory Booker of New Jersey led a new letter to the Government Accountability Office.
December 16
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Many experts think the Consumer Financial Protection Bureau's funding through the Federal Reserve could be the fatal flaw in the Dodd-Frank Act that created the agency, but differentiating the CFPB's structure from others may be tricky.
December 15
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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.
