Biden Administration

President Biden is set to sign an executive order this week that will outline the U.S. government’s strategy for cryptocurrencies, according to several people familiar with the administration’s plans.

Lawmakers on the House Financial Services Committee clashed over the stalled nominations of Federal Reserve Chairman Jerome Powell and four others Wednesday. It was a prelude to the fireworks that could occur Thursday when Powell is scheduled to testify before the Senate Banking Committee.

President Biden’s four nominees to join the Commodity Futures Trading Commission told lawmakers that the main U.S. derivatives overseer should take on new responsibilities regulating cryptocurrencies.

New research shows that young Americans are finding it increasingly difficult to buy a home of their own. The co-author of a series of reports will delve into discoveries around the factors why.

Pat Toomey, the top Republican on the Senate Banking Committee said Congress should weigh an overhaul of the U.S. Federal Reserve Regional Bank system and consider consolidating regional banks that are “wandering” into issues such as climate change.

Sarah Bloom Raskin, reportedly the Biden administration's top candidate for vice chair of supervision, would toughen the Federal Reserve's stances on the role of banks in combating climate change, capital requirements, the Volcker Rule and other policy areas, experts say.

After Federal Deposit Insurance Corp. Chair Jelena McWilliams’ resignation, a Democrat on the board will temporarily run the agency. But it's still unclear who will call the shots over the long run and how policymaking will be affected by the FDIC's leftward shift.

The Trump-appointed head of the Federal Deposit Insurance Corp., Jelena McWilliams, said she plans to leave the agency in early February. The announcement comes weeks after Democratic appointees making up a majority of the board had threatened her leadership by acting on policy related to bank mergers without her consent.

Biden administration appointees moved quickly to highlight climate change risks and unwind Trump-era regulatory relief and housing finance measures. These regulators and lawmakers will have a seat at the table as the progressive shift in banking policy continues.

President Biden extended the pause on federal student loan repayments by another three months as the U.S. faces a fresh wave of COVID-19 cases from the omicron variant, removing a near-term threat to millions of Americans’ finances.