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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Bankers object to the Consumer Financial Protection Bureau's request on “exploitative junk fees” that produce billions in income for financial institutions, arguing that banks are compliant with statutes that require fees be disclosed to customers.
April 29
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Acting Director Himamauli Das acknowledged concerns from Democratic lawmakers that Fincen was moving too slowly to implement beneficial ownership rules but said the agency "will likely continue to do so, because our budget situation has required us to make significant trade-offs among competing priorities.”
April 28
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President Biden said he’s considering a plan to relieve student debt in the coming weeks, but that it would fall short of the sweeping forgiveness sought by Senate Majority Leader Chuck Schumer and progressive Democrats.
April 28
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Treasury Secretary Janet Yellen defended the Biden administration’s approach to economic recovery during COVID-19, but said the pandemic underscored the ways that prudential regulation for nonbanks may be warranted.
April 28
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With new guidance and a simplified chartering process, the National Credit Union Administration seeks to counter the trend of closures and consolidations.
April 28
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Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus.
April 28
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The Consumer Financial Protection Bureau director told Congress he will revise some rules as the bureau looks to address late fees.
April 27
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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.
