Politics

The Federal Deposit Insurance Corp.'s newly installed Acting Chairman Travis Hill issued a statement laying out his priorities for the agency, including reviewing and repealing Biden-era bank regulations, a softer approach to fintech and crypto and addressing so-called debanking.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.

Federal Deposit Insurance Corp. Vice Chair Travis Hill has assumed the duties of FDIC chair, National Credit Union Administration Vice Chair Kyle Hauptman took over as NCUA chair and Securities and Exchange Commission member Mark Uyeda will serve as acting chair of the SEC.

A one-page outline of priorities for Trump's inauguration day obtained American Banker includes financial policy items, including firing Consumer Financial Protection Bureau Director Rohit Chopra, issuing a "reset" of that agency and designating crypto as a "national priority."

Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.

The lawsuit alleges mismanagement and fiduciary breaches caused SVB's 2023 collapse, costing the Deposit Insurance Fund $23 billion.

President Trump has promised to reduce banking regulations, a form of indirect tax or "bank tariff," that will help the banking industry. But, he also plans to impose new tariffs on imports that may adversely impact agricultural and manufacturing industries and thus their banks.

The incoming administration will have a number of tools at its disposal to immediately pare back stifling federal regulation of financial services and boost the housing market. It should use them.

The Consumer Financial Protection Bureau rescinded a proposed rule on nonsufficient funds fees and a 2020 advisory opinion on earned wage access products.

Scott Bessent, Donald Trump's pick to serve as Treasury Secretary, handled a policy-heavy confirmation hearing with poise, highlighting his preference for relaxed bank regulation, support of the 2017 Trump tax cuts and a hawkish approach to spending.

The nominee to lead Federal Housing Finance is head of Pulte Capital Partners, which invests in homebuilding related businesses.

With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.

The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.

Hedge fund manager Scott Bessent, President-elect Donald Trump's pick for Treasury Secretary, will appear before the Senate Finance Committee for his confirmation hearing Thursday morning starting at 10:30 am.

It's no accident that national banks have, so far, been insulated from major crypto disasters. Congress and the incoming administration should take heed and avoid eliminating the guardrails that have kept banks safe.

The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.

The Senate Banking Committee Chair launched an agenda that puts agencies on a shorter leash and separately took aim at the FHFA recent moves.

The incoming Trump administration's 'agency review team' has landed and is expected to name an acting director of the Consumer Financial Protection Bureau. Republicans on the Federal Deposit Insurance Corp. or the Federal Trade Commission are among the most likely candidates.

The Consumer Financial Protection Bureau released recommendations on how states can beef up enforcement after the Trump administration takes office next week.

The Supreme Court heard oral arguments in Thompson v. United States, which could decide whether the federal government can prosecute "misleading" in addition to "false" statements to the Federal Deposit Insurance Corp.