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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Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.
May 17
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A 2019 state law limits annual interest rates on many loans to 36%, but some high-cost lenders have found a way to continue operating in California by partnering with banks. Now Democratic legislators want the Federal Deposit Insurance Corp. to take action.
May 16
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The Secure and Fair Enforcement Banking Act would take the uncertainty out of banking and payments transactions involving legal cannabis businesses. The bill has languished in the Senate for years, but there's optimism it could finally reach the president's desk. Here are four ways that could happen.
May 15
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The Senate voted 80-19 Thursday to confirm Powell to the top spot on the Federal Reserve Board of Governors. He joins Philip Jefferson, who was confirmed by the Senate to serve on the board Wednesday night, and Lisa Cook, who was confirmed Tuesday night.
May 12
- AB - Policy & Regulation
Treasury Secretary Janet Yellen said a recent sell-off in crypto markets justifies the need for stablecoins to be issued by banks.
May 12
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A bipartisan group of senators is calling for a bill allowing banks to serve the legal cannabis industry to be included in the U.S.-China trade bill, ending a yearslong blockade of the popular legislation.
May 12
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Lorie Logan manages the Fed’s System Open Market Account and played key roles in the central bank’s crisis responses in 2020 and 2008. She replaces Robert Kaplan, who resigned amid a stock trading scandal last fall.
May 11
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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.
