Politics

The largest U.S. banks are facing shareholder votes on a number of politically charged issues — some backed by conservative groups and others championed by organizations with a more progressive bent.

Wall Street veteran Frank Bisignano pledged at a Senate Finance Committee hearing that he doesn't plan to privatize Social Security.

A proposal before Congress would incentivize the creation of new banks by offering capital relief. This would give de novo banks a competitive advantage over incumbent community banks.

Acting Federal Deposit Insurance Corp. Chair Travis Hill said the agency would eliminate reputational risk from all supervision, release more guidance on cryptocurrencies and refocus bank supervision.

Federal Reserve Gov. Adriana Kugler expressed support for holding interest rates steady for "some time," while highlighting a move up in some measures of Americans' inflation expectations.

The Consumer Financial Protection Bureau said it is "optimistic" that a lawsuit challenging the $8 credit card late fee rule can be resolved. The late fee rule is expected to be rescinded by the Trump administration.

Acting Comptroller Rodney Hood discussed using fintech to evaluate self-employed borrowers' creditworthiness, saying alternative credit models could promote financial inclusion.

In a speech, the Federal Reserve governor called for policies that would impose Truth In Lending-like disclosure requirements on lenders' products that cater to small businesses.

Officials in the Trump administration have floated the idea of changing how the government measures economic growth. Economists say the shift would create new expenses for banks.

Treasury Secretary Scott Bessent and Trump's National Economic Council director, Kevin Hassett, are set to meet Tuesday with House and Senate Republican leaders and their top tax writers to try to resolve differences over the scale of cuts and ways of paying for them.