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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Sen. Warren on Wednesday sent a letter to Consumer Financial Protection Bureau Director Rohit Chopra, calling for expanded regulations after she collected private data on rising fraud rates on Zelle from some of the country's largest banks.
October 27
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The Federal Deposit Insurance Corp.'s solution to add the ombudsman to an appeals committee as a nonvoting member wouldn't be enough to ensure the independence of the appeals process, banks said.
October 25
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In a letter to Federal Reserve Chair Jerome Powell, the chair of the Senate Banking Committee warned that the Fed was in danger of going too far in its efforts to tame inflation.
October 25
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Top Wall Street bankers offered up a litany of warnings that recession in the U.S. and Europe is increasingly likely with geopolitical risks further darkening the horizon into 2023.
October 25
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The rate of unbanked consumers declined to its lowest point since the Federal Deposit Insurance Corp. began its biennial survey in 2009.
October 25
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A year after launching Africa's first digital currency, Nigeria's central bank is turning to the nation's three-wheeler taxi operators to speed the adoption of the eNaira, as regulators across the world scrutinize its every move.
October 25
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The Fed's interest rate hikes are meant to tame inflation, but the secondary impacts on housing could give the central bank a reason to pump the brakes.
October 24
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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.
