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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House Financial Services Committee Chair Maxine Waters joined her Republican counterpart on the panel saying FTX's unwinding hastens the need for legislation that outlines crypto regulation.
November 10
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A ballot initiative that places additional restrictions on debt collectors and decreases the interest rates that can be charged on medical debt passed Tuesday by an overwhelming margin. Consumer advocates say it will ease the burden on households dealing with hardship, but industry groups contend that it will make credit more expensive.
November 10
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A Consumer Financial Protection Bureau report on complaints about cryptocurrencies said consumers have difficulty obtaining any restitution for lost crypto funds.
November 10
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The CFPB's recent guidance on so-called "unfair" bank fees has created legal turmoil for banks and financial firms after the White House claimed the bureau's actions were settled law.
November 9
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Chancellor of the Exchequer Jeremy Hunt plans to cut a surcharge on U.K. bank profits, effectively shielding them from the bulk of an increase in the country's corporate tax rate as the government tries to preserve the competitiveness of Britain's finance industry.
November 9
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North Carolina Republican Pat McHenry, who's likely to be the next chair of the House Financial Services Committee, promised constituents that he would go after "woke corporations" in Washington.
November 9
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Rep. Patrick McHenry, R-N.C., who could be the next House Financial Services Committee chairman, handily won reelection, as did Sen. Tim Scott, R-S.C., of the Senate Banking Committee. But many consequential races are still too close to call.
November 9
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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.
