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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From the end of overdraft fees to the rise of banks that watch their customers' every move, there are several new banking trends on the horizon in 2019.
January 1
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With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated.
January 1
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The announcement rescinded the agency's earlier guidance issued to industry partners to suspend sales operations as a result of the current lapse in funding from Congress.
December 31
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Readers this year responded to Mick Mulvaney's leadership at the Consumer Financial Protection Bureau, the banking industry's role in the national gun debate, Rep. Maxine Waters' upcoming leadership of the Financial Services Committee, the influence of tech companies like Facebook and Amazon on financial services and much more.
December 27
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Jonathan Gould, the committee's chief counsel, has been hired by the Office of the Comptroller of the Currency as senior deputy comptroller and chief counsel.
December 26
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Rep. Maxine Waters, D-Calif., will take the gavel on the Financial Services Committee next term.
December 24
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Two groups are asking the agency to restrict collectors to "one live conversation per week" with a borrower and up to three phone attempts per week.
December 20
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Banks can price in risk and manage their way around both left-wing and right-wing administrations. But the kind of uncertainty that arises from today's brand of politics is impossible to model.
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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.
