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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Reps. Rashida Tlaib and Alexandria Ocasio-Cortez called on Treasury Secretary Janet Yellen and Fed Chair Jerome Powell to be more aggressive in using their oversight of the financial system to combat risks associated with a warming planet. Recent recommendations from the Financial Stability Oversight Council do not go far enough, they said.
December 1
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Some of the biggest names in crypto will head to Capitol Hill next week as lawmakers weigh new rules for the white-hot asset class.
December 1
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Rohit Chopra, the new director of the Consumer Financial Protection Bureau, announced enhanced monitoring of overdraft programs and said the agency plans to crack down on executives responsible for conduct that violates consumer laws.
December 1
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The Consumer Financial Protection Bureau’s new director, Rohit Chopra, has settled a lawsuit that said a task force assembled by his Republican predecessor was illegal. Here's what it means for his ability to advance a more pro-consumer agenda.
November 30
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Banking industry advocates are urging the Senate to follow the House's lead and pass the National Defense Authorization Act with a provision that includes a safe harbor for financial institutions working with cannabis firms.
November 30
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Higher interchange fees and a giveback of loan-loss provisions helped banks overcome rising expenses and other headwinds in the third quarter, according to the Federal Deposit Insurance Corp.'s Quarterly Banking Profile.
November 30
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The White House is considering nominating Richard Cordray, who led the Consumer Financial Protection Bureau from 2013 to 2017, as the Federal Reserve's next vice chairman of supervision, according to a report in The Wall Street Journal.
November 30
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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.
