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 Consumer Financial Protection Bureau's rules and enforcement actions to date could be open to legal challenges by banks and other companies after a three-judge panel deemed the agency's payday lending rule unconstitutional because of the way the agency is funded, legal experts say.
October 20
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Federal Reserve Bank of St. Louis President James Bullard's reported speaking engagement at an invitation-only private event hosted by Citigroup last Friday may have violated the central bank's communications guidelines, central bank watchers said.
October 20
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If stablecoins facilitate payments in the future it could have broad implications, acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said.
October 20
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The U.S. Court of Appeals for the 5th Circuit overturned a lower court's ruling, declaring the agency's funding structure and its 2017 payday lending rule invalid.
October 20
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A Wisconsin taxpayers group asked the U.S. Supreme Court to block President Biden's student-loan relief plan from taking effect, accusing him of usurping the power of Congress and costing taxpayers potentially more than $1 trillion.
October 19
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JPMorgan Chase has hired a new head of digital assets regulatory policy, less than a month after CEO Jamie Dimon told lawmakers that cryptocurrencies are "decentralized Ponzi schemes."
October 19
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War and the increase in anti-ESG sentiment in the U.S. are part of a new and "complex" set of hurdles making it much harder for Wall Street to meet the climate promises it's made, according to the chair of the Net-Zero Banking Alliance.
October 19
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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.
