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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The high-profile members of the Senate Banking Committee have joined forces on legislation that would subject the Federal Reserve's 12 regional banks to the Freedom of Information Act and other disclosure mandates.
December 9
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Sen. Pat Toomey, who is retiring from his post as the top Republican on the Senate Banking Committee, attached a provision to the bill that would force the Fed to disclose account holders and applicants.
December 9
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The House of Representatives adopted a defense authorization bill that includes a measure to make it easier for entry-level employees with criminal records to join a bank. Meanwhile, the Senate omitted a pot banking provision from its version of the must-pass spending legislation.
December 8
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New York and California are among the states that have laws requiring lenders to make certain disclosures to small-business borrowers. The Consumer Financial Protection Bureau has reached a preliminary determination that a federal statute does not preempt those state laws.
December 8
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A group of Hispanic lawmakers urged the Federal Reserve to appoint its first-ever Latino as a regional president after recent searches for the top roles at three other district banks resulted in the hiring of non-Latino candidates.
December 8
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U.S. Sen. Elizabeth Warren wants an accounting from Federal Reserve Chair Jerome Powell and other top bank watchdogs on the links that major lenders have with the crypto industry following FTX's spectacular collapse.
December 8
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U.S. Sens. Sherrod Brown and Patrick Toomey have asked Sam Bankman-Fried to testify at a hearing on Dec. 14 about the cryptocurrency exchange FTX's collapse, according to a letter issued Wednesday.
December 8
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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.
