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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Citing inflation’s effect on rising payment card pricing, the senator convened a Judiciary Committee hearing to reassess rules that resulted in caps on debit transaction fees 11 years ago.
May 6
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Goldman Sachs Group and JPMorgan Chase are discussing extending abortion benefits to cover travel after an internal debate was reignited this week by the leak of a draft Supreme Court ruling to overturn Roe v. Wade.
May 5
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The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a joint proposed rule Thursday meant to refocus and update its implementation of the landmark 1977 law.
May 5
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Lenders argue that they're taking steps to eliminate or rein in the consumer fees, but several Democratic senators say reform legislation could be a necessary step in the near future.
May 4
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The Federal Reserve’s Federal Open Market Committee voted Wednesday to raise interest rates to between 0.75% and 1%, the largest single rate hike since 2000.
May 4
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Massachusetts Democrat Elizabeth Warren has called Jamie Dimon the "star of the overdraft show" because of the billions of dollars JPMorgan Chase has made from those banking fees. Now she’s telling Dimon and two of his fellow Wall Street chief executives to stop the show.
May 4
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Bank of America will pay a $10 million fine to the Consumer Financial Protection Bureau and refund fees to 3,700 customers over allegations that it processed illegal out-of-state garnishment orders.
May 4
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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.
