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 Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.
January 17
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Acting CFPB director Mick Mulvaney issued "a call for evidence" Wednesday seeking comment on all of the consumer agency's functions, including enforcement, supervision, rulemaking, market monitoring and education activities.
January 17
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Of the more than 30 GOP lawmakers due to retire at yearend — a historically significant level of departures for a single election — several are important to banking policy.
January 15
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GOP Rep. Ed Royce of California said this week that he will leave Congress at the end of the year, removing his name from the list of contenders to lead the Financial Services Committee next year.
January 10
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Pimco's Richard Clarida is said to be out of the running for the nomination. Other names linked to the position have been former Fed Gov. Lawrence Lindsey and Mohamed El-Erian, chief economic adviser at Allianz SE, Pimco’s parent company.
January 8
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Consumer Financial Protection Bureau complaints dropped last year for most of the big banks, including Wells Fargo, though they rose sharply at Capital One.
January 5
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Kirsten Sutton Mork, the House Financial Services Committee's staff director, will become chief of staff at the Consumer Financial Protection Bureau.
January 5
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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.
