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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Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one.
November 28
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District Judge Timothy J. Kelly ruled Tuesday that Office of Management and Budget Director Mick Mulvaney was the legal interim head of the Consumer Financial Protection Bureau, denying a request by Deputy Director Leandra English to block the appointment.
November 28
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In his nomination hearing, Jerome Powell was quick to assure Republican senators of his regulatory relief credentials. But Democrats still fear that he and other Trump appointees might upend the Dodd-Frank Act.
November 28
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OMB Director Mick Mulvaney said he would "fix" the CFPB by ensuring it protected consumers without cutting off access to financial services. His comments came as a federal judge declined to rule yet on the legality of Mulvaney's appointment.
November 27
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President Trump’s pick to head the Federal Reserve will face the Senate Banking Committee this week. Here’s what to watch for.
November 27
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CFPB Director Richard Cordray abruptly announced Friday that he would leave at the end of the day, giving the reins of the agency to a new deputy director.
November 24
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The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures.
November 22
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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.
