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 West Virginia Democrat released a statement Monday saying that Sarah Bloom Raskin, President Biden's nominee to serve as the Federal Reserve's top regulator, "failed to satisfactorily address my concerns" and that he would not support her. Manchin's "no" vote puts her confirmation very much in doubt.
March 14
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Amid concerns that fees for overdrawn accounts lead to financial exclusion, the National Credit Union Administration is focusing its attention on such policies this year.
March 14
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Citigroup, the U.S. bank with the largest presence in Russia, will broaden its withdrawal beyond previously announced plans to dispose of consumer operations there.
March 14
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Russia's invasion has disrupted life at Lithuanian startup Paysera, which has a dozen employees in Ukraine, including Yevhen Matasar, who fled from Kyiv to a nearby town where he still does some programming when he can. "This is a very difficult situation … it's helpful to be able to continue to work," Matasar said.
March 14
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Deutsche Bank reversed course and is now joining Wall Street banks Goldman Sachs Group and JPMorgan Chase in pulling back from business in Russia following the country’s invasion of Ukraine.
March 11
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M&T-People's closing date set, U.S. Bank's WNBA deal and more in banking news this week.
March 11
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The bill, part of the omnibus spending package, would force banks and other critical infrastructure providers to tell the government right away when they’ve been breached.
March 11
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Efforts by individual states to rewrite existing rules governing interstate bank lending risk throwing the entire system into chaos. Only Congress has the ability to reestablish a workable set of national rules.
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The new law's reciprocal and custodial deposit provisions recognize what the evidence has shown for two decades. They should spur, not substitute for, the broader work of protecting America's depositors.
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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.
