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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FTX's new chief executive, John J. Ray, described shoddy accounting processes and a core group of inexperienced leaders that contributed to the crypto exchange's collapse.
December 13
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By March 1, financial institutions that are exempt from federal reporting requirements must provide information to state regulators about how much revenue they collect from overdraft fees.
December 13
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The U.S. Supreme Court expanded a planned showdown over President Biden's student-loan relief plan, saying it will hear arguments from two borrowers who contend they are being unfairly excluded from the full scope of the program.
December 12
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After spending the past two weeks participating in media interviews, former FTX Chief Executive Sam Bankman-Fried is being more selective when it comes to appearing before Congress to discuss the collapse of his cryptocurrency empire.
December 12
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At least $73 million of political donations tied to Sam Bankman-Fried's FTX may be at risk of being clawed back as bankruptcy lawyers sort through the remnants of his crypto empire in search of assets to repay creditors.
December 12
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JPMorgan Chase Chief Executive Jamie Dimon praised the results of last month's U.S. midterm elections, saying cooperation in Congress may be more likely since both parties' "wing nuts didn't get elected."
December 12
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Bank of America Chief Executive Brian Moynihan said he has no intention to leave his post, responding to a report that he's on the Biden administration's short list to replace Treasury Secretary Janet Yellen if she steps down.
December 12
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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.
