Politics and policy
Federal Reserve Chair Jerome Powell said the central bank would not hesitate to take rates to their lower bound again, despite the challenges that rising rates have posed to banks. Economists and policy experts say other parts of the crisis playbook warrant reconsideration.
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Federal Deposit Insurance Corp. Chairman Martin Gruenberg said despite earlier proposals for reforming deposit insurance following this spring's bank failures, congressional interest in major reforms has waned and prospects for legislative changes are dim.
September 28 -
Long-term business profit is inextricably tied to sustainability. The head of the U.K.'s Chartered Banker Institute explains that financial services leaders have a special responsibility to understand and communicate that fact.
September 26
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Educational institutions ought to have some skin in the game when it comes to the student loan market.
September 21 -
The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample forms when they should provide specificity to explain why a consumer is denied credit.
September 19 -
Treasury's Financial Crimes Enforcement Network said most small businesses will need to report information about their beneficial owners at the start of next year; certain financial and government entities are exempt because of their preexisting regulatory requirements.
September 18 -
A joint letter from the banking and financial trade groups is the latest effort by the industry and its representatives in Washington to push back against the Basel III capital proposals, which would raise capital significantly for the largest banks.
September 13 -
Securities and Exchange Commission Chairman Gary Gensler told lawmakers that artificial intelligence could be used to game securities transactions in favor of corporate interests over those of investors. Critics say the SEC's plan to combat such conflicts of interest is hostile to technology.
September 12 -
The Department of Health and Human Services' recommendation to reclassify cannabis as a Schedule III substance has sparked renewed interest in cannabis banking reforms in Congress, but in itself will do little to make banking cannabis businesses easier.
September 11 -
The CU Relief Fund for Ukraine, which launched in late 2022, now takes public donations and is working to recruit more institutions to its cause.
September 11
