Politics

Capital One's proposed deal to acquire Discover is being viewed by progressives as a test of how skeptical the administration really is about big bank mergers, while Republican lawmakers mostly support the deal.

Sen. Cynthia Lummis announced a forthcoming bill that would require the government to hold 5% of the global bitcoin supply. Presidential candidates Donald Trump and Robert F. Kennedy Jr. have also called for strategic holdings of the cryptocurrency.

Despite being a top concern for a wide swath of voters, housing affordability has largely been absent from presidential politics.

The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.

Vice President Kamala Harris has kept a low profile in banking policy, and there is a reasonable expectation that her administration would pick up where Biden left off. But if she wanted to, Harris could reset Democrats' financial policy agenda.

America must never cease to be the global leader in innovation and entrepreneurship. However, when it comes to bank-fintech relationships, politics and misguided regulatory forces threaten the very foundation of that innovative spirit and limit consumer choice.

Vice President Harris' surprise elevation to the top of the Democratic ticket and the ascent of Ohio Sen. J.D. Vance to be the Republican vice presidential pick brings renewed vigor to each party's economic vision.

Vice President Kamala Harris, the most likely choice to replace President Joe Biden on top of the Democratic presidential ticket in November, has a long and complicated history with the banking industry.

Investors are set to start the week scrambling to decide if President Joe Biden's decision to end his reelection campaign and endorse Vice President Kamala Harris increases or decreases Donald Trump's chances of regaining power. 

Community and advocacy groups opposed Capital One's proposed acquisition of Discover in a hearing held by federal regulators on Friday.

The week of the Republican National Convention brought with it some of the biggest political moments the country has seen for decades, some of which center on the rise of economic populism in the Republican party. Here's some of the biggest moments that matter for bankers.

The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.

The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.

Two recent Supreme Court rulings, Loper Bright and Cantero, are likely to upend the Office of the Comptroller of the Currency's long-standing approach to federal preemption of state banking laws, experts say.

Reps. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif., who run the House Financial Services Committee, today released their report on artificial intelligence in the financial industry.

Payroll advances would be considered consumer loans under an interpretive rule by the Consumer Financial Protection Bureau that would require disclosures of annual percentage rates and fees under the Truth in Lending Act.

Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.

Federal Reserve Gov. Christopher Waller said that economic data seems to indicate that the economy will achieve a so-called "soft landing" but said he would like to see additional data before the central bank cuts interest rates.

Congress needs to take immediate action to reform policies that foster this trend and ultimately subsidize banking consolidation on Main Street, writes Rebeca Romero Rainey, president and CEO of the Independent Community Bankers of America.

Federal Reserve Board Gov. Adriana Kugler said traditional datasets are slow and sometimes outdated. She pointed to housing services as a price category that can benefit from private data.