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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Federal Reserve Vice Chair for Supervision Michael Barr said his "holistic" review of capital standards is still underway, but noted the benefits of stronger requirements in a speech Thursday.
December 1
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The Worldwide Foundation for Credit Unions' Fuel Disbursement Program provided more than 160 farmers with roughly 17,000 gallons of pre-paid fuel. Other groups are supplying computers and printers to help the country's domestic credit unions remain operational.
December 1
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Financial technology companies that distributed Paycheck Protection Program loans often employed lax oversight that allowed fraudsters or ineligible individuals to receive relief funded by taxpayers, a congressional report found.
December 1
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University of Chicago economist Austan Goolsbee previously served as chair of the White House Council of Economic Advisers during the Obama administration.
December 1
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The Biden administration's student loan forgiveness plan remains stalled, after the 5th U.S. Circuit Court of Appeals refused to lift an order blocking the sweeping program.
December 1
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Federal Reserve Chair Jerome Powell said that interest rates could climb less quickly as early as December, but warned that cutting rates "is not something we want to do soon."
November 30
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Banks are developing technology to identify potential mass shooters, according to a CEO backing the push to get credit card companies to track gun purchases more closely.
November 30
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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.
