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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Janet Yellen said Wednesday she intends to stay on as Treasury secretary in Joe Biden's administration, seeking to put to rest rumors of her departure following the midterm elections.
November 30
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In a letter to Treasury Secretary Janet Yellen, Sen. Sherrod Brown, D-Ohio, said regulators should have supervisory authority over crypto activity.
November 30
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The Inflation Reduction Act is starting to change the way bankers view their climate targets.
November 30
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The Federal Deposit Insurance Corp. lacks a board member with state banking regulatory experience as required by law, the Conference of State Bank Supervisors says. None of President Biden's picks — including acting Chair Martin Gruenberg — meets that criterion.
November 29
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"The way we are living is not sustainable; we have to change," said Dominic Ng, who shared the major issues he plans to address with the Asia-Pacific Economic Cooperation's Business Advisory Council in 2023.
November 29
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The three megabanks will see their surcharges rise by 50 basis points, according to a new analysis of regulatory data. The Federal Reserve assesses the levies as a way to compensate for the impact that the collapse of a global systemically important bank would have on the financial system.
November 28
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Payment firms including Mastercard and Block are banding together with fintech companies to press Canada to move faster on rules that may boost competition in financial services.
November 28
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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.
