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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William J. McDonough, whose decade-long tenure as Federal Reserve Bank of New York president included dealing with the market scare of Long-Term Capital Management and the aftermath of the Sept. 11 terror attacks, has died. He was 83.
January 25
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Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, said his zero-funding request for the agency is not meant to drain it of resources.
January 23
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Financial firms have mostly shrugged off the government's budget woes, but Washington's gridlock might pose a bigger risk than they think.
January 22
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Three nominees for financial regulatory posts, including the administration's choice to run the FDIC, will face questions by the Senate Banking Committee.
January 22
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Jonathan Dever, a Republican Ohio state representative and defense lawyer, is being touted as a top candidate to lead the bureau, according to multiple insiders.
January 18
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Comptroller of the Currency Joseph Otting blasted a letter from Senate Democrats criticizing his agency for not implementing recommendations on supervision in the wake of the Wells Fargo scandal.
January 18
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Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency.
January 18
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As governors prepare to designate new "opportunity zones," lenders and investors should take advantage of the chance to target capital to communities where it will both do good and generate strong returns.
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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.
