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 agency expects one in five borrowers to be eligible for the new pricing benefits.
October 24
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Former Bank of England Gov. Mark Carney has dismissed reports that Wall Street banks threatened to walk out of the climate-finance coalition he heads, but also said that "tension" within the group needed to be addressed.
October 24
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The mortgage market is reeling from the central bank's strategy of raising rates and reducing its holdings of mortgage-backed securities. Lenders face the worst headwinds in more than a decade.
October 24
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JPMorgan Chase is set to add another 20 people to its Saudi Arabia operation by the end of the year as it looks to capitalize on one of the world's few bright spots for equity capital markets, despite simmering political tensions between U.S. President Biden and Saudi Crown Prince Mohammed Bin Salman.
October 24
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Attorneys general from 19 states issued subpoenas to six large banks seeking information about their climate policies. They say they're seeking to hold banks accountable for the fairness of their ESG policies to fossil-fuel companies, but others call it intimidation.
October 23
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U.S. central bankers said the next phase in their campaign to curb inflation will be to debate how high to raise interest rates and when to slow the pace of increases.
October 21
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A federal judge dismissed a lawsuit by six Republican-led states challenging President Biden's student-loan forgiveness plan, finding the states failed to show they'd be directly harmed.
October 21
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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.
