Regulation

In a moment of rare unity, the Independent Community Bankers of America and National Association of Federally-Insured Credit Unions sent a joint letter to FHFA arguing to stop the GSEs' profit sweep.

The Treasury Department will release a report early next year on opportunities and risks posed by fintech as part of administration efforts to reform the regulatory structure, Craig Phillips said.

The nonbinding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles.

Recent regulatory reform activity is a step in the right direction, but the changes envisioned in both a Treasury Department report and a suite of House bills are a mixed bag.

Burgess, chairman of FirstCapital Bank of Texas, succeeds Dorothy Savarese, of Cape Cod Five Cents Savings Bank in Massachusetts, as chairman of the American Bankers Association.

President Trump said Tuesday that he has winnowed the number of candidates for the next Fed chair, including potentially reappointing Janet Yellen.

The president of the St. Louis Fed said that regulators should go back to the pre-Dodd Frank framework for small banks, while warning about changes to the system as fintechs expand their presence.

The current regulatory focus drives the growth of ever-larger, harder-to-manage and harder-to-regulate megabanks, while community banks have been left to be picked up by acquirers.

St. Louis Fed President James Bullard explains why community banks feel they were hit with unduly tough regulations after the financial crisis.

Senate lawmakers will soon introduce a bill that could more than quadruple the current $50 billion threshold to be considered a systemically important bank, National Economic Council Director Gary Cohn said Monday.