Politics

At an American Bankers Association event, Sen. Jon Tester, D-Mont., who's up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won't go anywhere and criticized the Federal Reserve's debit interchange proposal.

Federal Reserve Chair Jerome Powell said at the Federal Open Market Committee press conference Wednesday that a slower pace of reduction could help the central bank avoid shrinking its holdings further without disrupting the banking system.

Policy experts say the mix of proposals put forth by the White House could ease the nation's housing shortage, but success will be neither quick nor assured.

How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.

A trio of Republican Congressmen stated they will investigate how the program got fast-tracked by the Biden Administration.

Rep. Tom Emmer, R-Minn., majority whip of the U.S. House, says Financial Services Committee Chairman Patrick McHenry's digital market structure bill could be ready for a vote in the full chamber.

Judicial review of bad rulemaking is a right that all regulated industries enjoy. But some industries avail themselves more than others, and the ones that rely on it the most tend to get worse policies. Banks should take notice.

A Texas judge ordered the U.S. Chamber of Commerce to explain why it sued the Consumer Financial Protection Bureau in Texas to halt the bureau's $8 credit card late fee rule after the bureau filed a motion accusing the trade group of "forum shopping."

Credit card late fees are annoying, but that's why they work as a disincentive to prevent late payments. By making them much smaller, the CFPB will actually be working against the interests of low-income consumers.

The head of the Consumer Financial Protection Bureau summarized his findings from a yearlong probe into the Appraisal Foundation. He says the "lawmaking body" is not accountable to the public or market forces.

Increased federalization of the U.S. banking industry would be a disservice to consumers and the economy. The court must act to protect the vibrancy of the dual-banking system.

As nonbank entities expand their market share in many traditional banking services and are increasingly intertwined in the banking system, regulators' approach to leveling the playing field has been incremental and situational.

A Texas judge has recused himself from a case that pits the largest credit card issuers against the Consumer Financial Protection Bureau and a rule that would eliminate $10 billion in late fees.

The Consumer Financial Protection Bureau is preparing to pick winners and losers in the consumer lending market, stifling innovation and curtailing freedom of choice.

The Consumer Financial Protection Bureau claims trade groups have no jurisdiction to file a lawsuit in Texas to stop the bureau's $8 credit card late fee rule, saying the plaintiffs engaged in "forum-shopping" to seek the most favorable outcome.

If former Treasury Secretary Steven Mnuchin follows through with a purchase of the controversial social media app, it will be the second high-profile deal he will have marshaled this year after leading a $1 billion equity investment in the troubled New York Community Bancorp.

The Navy Federal scandal is just the tip of the iceberg. After looking away for 20 years, Congress needs to focus on providing real oversight of the credit union industry.

Federal Reserve officials have hammered home the importance of bank readiness to borrow from the discount window. Getting banks to actually do so may require the Fed to make structural improvements to the system.

A bipartisan group of senators called on the Federal Deposit Insurance Corp. to exercise transparency and expedience in evaluating industrial loan company applications, which grant a type of charter industry experts say is unlikely to be issued in this administration.

The Congressional Budget Office put an estimate on the net government subsidy provided to the Federal Home Loan Bank System, including the so-called "implied guarantee," on bonds priced and sold to investors.