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 and two states on Wednesday sued the nation's largest student loan servicer, Navient, for allegedly systematic failures in processing loan payments and failing to enroll borrowers in less expensive repayment plans.
January 18
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A House Republican report, charging that Consumer Financial Protection Bureau Director Richard Cordray "may have broken the law" when the agency cracked down on auto lenders, appeared to escalate the GOP's clash with the agency.
January 18
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The head of the New York Department of Financial Services did not mince words Wednesday in criticizing a proposed federal fintech charter.
January 18 -
Steven Mnuchin's time as OneWest CEO is expected to draw ample attention at his nomination hearing, but it will not be the only issue to come up as senators try to gauge how he would lead President-elect Trump's financial policies.
January 18
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Top Democrats vowed Tuesday to defend the Consumer Financial Protection Bureau, predicting Director Richard Cordray will file a lawsuit if he were fired by Donald Trump after he is sworn in as president.
January 17
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The U.S. Supreme Court turned away an appeal by Bank of America, Citigroup and JPMorgan Chase, refusing to stop antitrust lawsuits that accuse some of the world’s largest banks of conspiring to rig Libor.
January 17 -
Consumer protection groups opposing the Office of the Comptroller of the Currency’s plan to offer limited-purpose bank charters to fintech companies raised concerns that the move could allow payday lenders to operate nationally.
January 13
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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.
