Biden Administration

The most likely picks for comptroller of the currency have pushed tech-driven approaches to financial inclusion and anti-money-laundering, and would bring new perspective to regulating cryptocurrencies.

President Biden’s executive order requiring agencies to weigh the impact of pending policies on underserved groups could have a lasting effect on issues from reforming the Community Reinvestment Act to fair lending.

A tax that banks successfully opposed throughout the Obama administration was endorsed by the president on the campaign trail and is supported by many prominent Democrats in Congress as a means of funding government spending.

Kate Fitzgerald, senior editor at PaymentsSource, talks to Eric Grover, principal at Intrepid Ventures, about the political activities that hinder the expansion of payment systems.

The agency has amassed more in fines than it has returned to wronged customers. With Democrats now in power, some hope the bureau will allocate the unused money more aggressively.

Janet Yellen was confirmed by the U.S. Senate as the country's 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.

President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen.

The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules.

Liang, a senior fellow at the Brookings Institution, would take a position that has been vacant since 2014.

Dave Uejio, who served as chief of staff to ex-Director Richard Cordray, was named by the Biden administration to lead the Consumer Financial Protection Bureau until the Senate confirms Rohit Chopra for the permanent job.

Michael Barr helped write the 2010 Dodd-Frank Act while serving under Treasury Secretary Timothy Geithner.

The administration faces a slew of immediate financial policy tasks, such as passing a new round of small-business aid, charting a course for Fannie Mae and Freddie Mac and filling vacant agency leadership posts.

After a pivotal Supreme Court ruling last year, the Trump administration’s handpicked leader of the Consumer Financial Protection Bureau was widely expected to leave voluntarily or be fired by the new president.

The 46th president's agenda for financial regulation is already moving ahead, based on the people he's chosen to put in key roles.

The 46th president's agenda for financial regulation is already moving ahead, based on the people he's chosen to put in key roles.

Former Fed Chair Janet Yellen told senators that as Treasury secretary she would create a “hub” to examine the effects of a changing climate on financial institutions and create a database of companies' true owners as required by a recent anti-money-laundering bill.

The odds are better now that Congress will pass a bill to help financial institutions serve cannabis businesses, but the question of the legislative path forward has grown murkier.

The nominees, strongly backed by progressive Democrats to lead two key Wall Street watchdogs, signal that the Biden administration is planning tough oversight after four years of light-touch policies under appointees of President Trump.

Issued in the final days of the Trump administration, the regulation has united banks, gun-control advocates and environmentalists in opposition. It could be blocked by Congress or a comptroller chosen by the new president.

A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws.