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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Paulson, who announced his retirement as a senior deputy comptroller, is one of three top staffers at the Office of the Comptroller of the Currency who are departing or taking extended leave.
June 24
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Rep. Ed Perlmutter, the bill’s chief sponsor, said the decision would allow people to “continue to be killed” as cannabis companies’ cash is targeted by crime.
June 23
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Lawmakers on the Senate Banking Committee voiced some scattered support for changes to improve the finances of the National Flood Insurance Program, but comprehensive reform appears out of reach.
June 23
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The legislation, sponsored by Rep. Carolyn Maloney, D-N.Y., is said to have been withdrawn from consideration by the House Financial Services Committee because it lacked the necessary Democratic votes to pass.
June 22
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Several Democratic bills to support down-payment assistance for mortgage borrowers and other housing programs met with protests from Republicans, who said the legislation would further fuel inflation. The GOP maneuvers failed, but they highlighted the parties’ differing priorities ahead of the midterm elections.
June 22
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Federal Reserve Chair Jerome Powell said the Board of Governors has a limited role in determining which firms are granted master accounts, an emerging point of contention between Congress and the central bank.
June 22
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Democratic senators led by Bob Menendez urged the Federal Reserve to take a more active role in the selection process of the heads of its regional banks so that more diverse candidates would be considered.
June 22
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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.
