McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

An independent examination of the Federal Deposit Insurance Corp. workplace culture revealed an atmosphere of sexual harassment, discrimination and misconduct at the agency and raised the need for significant reforms.

The full House is scheduled to vote Wednesday on a Congressional Review Act resolution that would overturn a staff accounting bulletin from the Securities and Exchange Commission. Banks argue that the guidance would effectively cut them out of the crypto custody business.

Rep. Andy Barr, R-Ky., is introducing a bill to establish an Office of Supervisory Appeals at each of the banking regulators that would give banks more power over the appeals process.

In a surprise move, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Federal Housing Finance Agency proposed a long-awaited rule to curb certain incentive-based pay arrangements for bank executives.

The Drug Enforcement Administration's early moves to reschedule cannabis could spur some banks to get interested in the market, but experts say without a legislative fix, the fundamental risks to taking on cannabis clients will remain.

Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.

On both sides of the Atlantic, regulators have failed to live up to their promises about how they would approach bank failures. Until they do, the industry operates in legal limbo.

During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.