Politics

Banking experts are divided on how regulators will reshape the capital overhaul and if reported revisions being floated by regulators will meet the banking industry's demands.

The Treasury Department's Financial Crimes Enforcement Network issued a proposal mandating banks enhance their anti-money-laundering and counterterrorism financing programs, including measures to address fentanyl trafficking and Russian money laundering.

The plan from the Heritage Foundation, a group the first Trump administration was largely in line with, would shutter CFPB, break up HUD and raise FHA premiums.

The cryptocurrency sector is only the latest in a long line of corporate interests seeking to distort our democracy by converting their financial power into political power.

Banks and financial institutions face a barrage of lawsuits from consumers alleging they failed to investigate inaccurate information on a credit report. Industry blames the uptick in litigation on social media sites and the proliferation of credit repair companies.

The Federal Reserve attributes the uptick in simulated losses in this year's stress test examination to heightened risks on bank balance sheets and higher expense levels. Credit cards and corporate lending were top areas of concern for the central bank.

The bankruptcy of fintech middleware provider Synapse has left thousands of customers unable to access their savings, with seemingly no one empowered to put it back in their hands. Regulators and lawmakers need to do something about it, but first they need to talk about it.

Customers caught up in the Synapse bankruptcy are met with deafening silence from Washington as they discover their savings — or what is left of them — are held in accounts that fall between the cracks of the bank regulatory apparatus.

A plan reportedly being floated by the Federal Reserve would reduce the top-line capital raise for the biggest banks by as little as 5% — down from 16% in the original proposal from last July.

The Consumer Financial Protection Bureau's attacks on credit card reward programs don't square with the fact that the vast majority of consumers are very satisfied with their service.

The Federal Reserve and the Federal Deposit Insurance Corp. found shortcomings in the living wills of Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase, although the FDIC deemed Citi's resolution plan as "deficient."

The two divisions — one focused on employee conduct, the other aimed at improving hiring practices — were created in response to last month's explosive report on widespread harassment and discrimination at the Federal Deposit Insurance Corp.

The Senate Banking Committee will consider the nomination of Christy Goldsmith Romero — the administration's pick to take over the Federal Deposit Insurance Corp. — on July 11.

New York Department of Financial Services' guidance advising banks and insurers to avoid doing business with the NRA was ruled as likely to be unconstitutional by the Supreme Court. Why is it still on the department's website?

The Federal Housing Finance Agency wants feedback on how the Federal Home Loan banks can improve their affordable housing programs, including efficiencies in the application process.

The Biden administration should widen the scope of its junk fee initiatives and provide small- and medium-size businesses with relief from excessive international payments charges.

The Consumer Financial Protection Bureau has been opposed by the financial services industry to a greater or lesser degree since its inception, and its constitutional legitimacy has now been deeply litigated. The bureau could still be dismantled — just not by the courts.

Sen. Elizabeth Warren, D-Mass., an influential progressive member of the Senate Banking Committee, decried reported meetings between Federal Reserve Chairman Jerome Powell and large bank CEOs who want the Basel III endgame proposal weakened.

Senate Banking Committee chair Sen. Sherrod Brown, D-Ohio, is the latest progressive to express some skepticism on the Office of the Comptroller of the Currency's merger review, especially when compared to the relatively stricter Federal Deposit Insurance Corp. version.

Christy Goldsmith Romero — the White House's pick to succeed Martin Gruenberg as chair of the Federal Deposit Insurance Corp. — has generated little pushback from Senate Republicans, though her lack of bank supervisory experience and her record on cryptocurrency are the most likely lines of attack during her confirmation process.