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 U.K. parliament started an inquiry into nonfungible tokens, the digital collectibles for which Prime Minister Rishi Sunak has been a champion.
November 4
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Bank-to-bank transactions that currently take two days could be settled in 10 seconds using central bank digital currencies and blockchain technology, the reserve bank finds.
November 4
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The interest paid on consumer deposits has barely risen despite the Federal Reserve's aggressive rate hikes, writes Sen. Jack Reed, D-R.I., in letters to seven of the largest U.S. banks including JPMorgan Chase and Wells Fargo.
November 3
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The potential for either chamber of Congress to turn over to Republicans and rising concern about inflation adds urgency to pass the Durbin-Marshall amendment on interchange fees, experts say.
November 3
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Some 16 million applications for student debt relief will be approved by this week, provided the White House plan survives court challenges, President Biden said Thursday.
November 3
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A growing number of economists and lawmakers think the Fed has gone too far in its battle against inflation. Powell is worried it hasn't gone far enough.
November 2
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U.S. Supreme Court justices questioned the legality of stiff penalties the federal government says it can impose on people who fail to file required reports listing their foreign bank accounts.
November 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.
