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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Whether to approve the $8 billion deal will fall to the Fed, whose board may be reshaped by President Biden in the coming months. The White House recently called for more robust scrutiny of bank acquisitions.
September 21
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Senate Majority Leader Chuck Schumer said he planned to move Tuesday to file a discharge petition to move Chopra’s nomination out of the Senate Banking Committee and onto the Senate floor.
September 21
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The company will return to selling pieces of its credit exposure to private investors during the last three months of the year, but is still evaluating its strategy for 2022.
September 20
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Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.
September 20
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Requiring financial firms to report customer account data to the IRS as a means of catching tax cheats would be intrusive and costly, industry officials say. Backers of the measure say those claims are exaggerated.
September 19
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The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.
September 17
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The Federal Reserve chair gave the order following revelations about trading by two senior officials that critics said showed the need for more accountability.
September 16
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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.
