Biden Administration

Federal Reserve Gov. Stephen Miran said Thursday that the central bank's forays into examining climate change and racial justice under the prior administration politicized the Fed. He also argued that Fed officials should limit their comments on economic policies such as tariffs.

The order calls on federal agencies to support more forms of digital identity documents and could lead more states to adopt digital driver's licenses.

President Joe Biden's administration and Senate Democrats are ramping up pressure on the Federal Home Loan Bank system to pump more money into solving the nation's housing crisis.

The bipartisan funding bill cuts financial services funding, but includes boons for the Small Business Administration and omits controversial legislation like Durbin 2.0.

In his State of the Union address, President Joe Biden touted the Consumer Financial Protection Bureau's credit card late fee rule, which has sparked litigation from banking groups, and a raft of housing policy initiatives.

The Senate Banking Committee for the second time has advanced Ron Borzekowski's nomination to lead the Office of Financial Research in the Treasury Department. The nomination languished amid partisan opposition last year.

As President Biden tries to revive a key campaign promise to provide widespread debt relief to student-loan borrowers after a Supreme Court setback, legal experts warn that he's likely to encounter a fresh wave of lawsuits challenging his authority to act without congressional approval.

President Biden will ask the Senate to confirm Gov. Philip Jefferson for the No. 2 spot on the Federal Reserve Board; World Bank Group executive and Colombian-American Adriana Kugler for a vacant board seat; and Gov. Lisa Cook for a full term.

Democrats and Republicans each said the other party's position on ESG investing carries additional costs for states.

Ajay Banga's election will give the Biden administration a chance to evolve the anti-poverty lender toward a greater focus on climate change.

Pandemic funding cuts may pop up in any of the four big-ticket, must-pass bills Congress will take up this year.

The proposal marks a concession for Republicans, but it's designed more to start negotiations with the White House rather than pass the Democratic-controlled Senate.

Treasury assistant secretary for economic policy Ben Harris, one of Joe Biden's top economic aides, has left the administration after years of advising the president.

The departure of the Federal Reserve's No. 2 could have a profound impact on who steers its policymaking efforts on several key issues, including revamping the Community Reinvestment Act and FedNow.

The Federal Reserve vice chair's departure creates an opening in the Board of Governors' second-in-command position.

The president is responding to critics who say many of Democrats' key policies do not address core expenses for Americans.

President Biden called on the SEC, CFPB and other agencies to vigorously use their enforcement powers to combat consumer scams and financial crimes involving cryptocurrencies; issue rules that address emerging risks tied to digital assets; share data on consumer complaints; and promote a modernized payment system.

The report from an office in the White House is the first public report issued pursuant to an executive order President Biden issued in March.

The U.S. Department of Education agreed to erase nearly $6 billion in student loans for borrowers who filed a class action lawsuit against the government after attending for-profit colleges that were found to have misled students.

The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.