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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An end-of-year push to attach a marijuana banking bill to a must-pass defense measure is facing stiff resistance from Senate Republicans and complicating the delicate lame-duck endgame for Democratic leaders soon to lose control of the House.
December 7
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The crypto bank Silvergate Capital was asked by three U.S. senators to release all records about transfers of funds for the collapsed FTX empire of Sam Bankman-Fried.
December 6
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Since her 20s, Wechter has served as a sounding board to Chairmen Richard Parsons and Mike O'Neill and CEOs Michael Corbat and now Jane Fraser. Wechter, 41, eventually took over the human resources department, where she has set in motion changes reshaping life at the bank for its 238,000 employees.
December 5
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Institutions outside the U.S. are holding an estimated $65 trillion in "missing" dollar debt off their balance sheets through currency derivatives, making it harder for global policymakers to anticipate the next financial crisis.
December 5
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A new business group led by Republican heavyweights will launch its first seven-figure ad campaign this week. The target: legislation taking aim at a key source of revenue for Visa and Mastercard.
December 5
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The Federal Reserve Board of Governors voted 6-1 to seek public comment on a new regulatory framework for climate-related financial risks. The requirements would add to existing risk management standards.
December 2
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There's an opening for Congress to pass a narrow digital-asset regulation bill before the year's end after the collapse of the crypto exchange FTX, Sen. Pat Toomey said.
December 2
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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.
