Politics

The House Financial Services Committee passed eleven bills, including a Democratic-sponsored bill on homeless veteran housing and a Republican-led package on bank regulation.

The agency seeks the public's thoughts on how the regulatory statement governing FHLBanks could better reflect the part they play in housing finance.

The Senate Thursday joined the House in passing a resolution to overturn the SEC's SAB 121 accounting guidance for financial firms holding crypto in custody. President Biden has vowed to veto the measure.

In a statement to Sen. Tim Scott, R-S.C., the ranking member of the Senate Banking Committee, a number of anonymous Federal Deposit Insurance Corp. employees allegedly expressed doubts that FDIC Chairman Martin Gruenberg could lead the agency through necessary changes to fix workplace issues.

The Supreme Court issued an opinion Thursday morning that was unequivocal in its view that Congress is constitutionally empowered to fund agencies with open-ended and indirect funding mechanisms, overruling a 5th Circuit opinion from 2022 that found that executive branches must be subject to direct Congressional appropriations.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.

The bill, which would allow uninsured trust companies to issue stablecoins, represents a perilous departure from historically sound financial regulatory policies, and would open the door to potentially catastrophic market disruptions.

The real-life British banker behind the hit Netflix movie 'Bank of Dave' talked with American Banker about the sequel due out next year and why opening more local community banks is so important.

Community Financial Development Institutions' mission-driven lending has traditionally been a small segment of the lending market. That's beginning to change, but plugging into secondary lending markets might not be the kind of change communities need.

A federal judge has granted a preliminary injunction against the Consumer Financial Protection Bureau's credit card late fee rule, pausing it from being implemented days before it was meant to go live.

Rep. Andy Barr, R-Ky., is asking the Federal Deposit Insurance Corp. to withdraw a corporate governance guidance proposal as FDIC Chair Martin Gruenberg is set to testify in Congress later this week.

The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.

When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.

The Federal Reserve Thursday released a report on its climate scenario analysis pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.

The next major chance the lawmakers could have on the so-called "swipe fee" legislation will come next year as Congress looks toward a tax package.

The House advanced a resolution that would roll back a Securities and Exchange Commission resolution that banks argue cuts them out of the crypto custodying business, but President Biden said he would veto it if it passes the Senate.

The central bank is merely an instrument of Congress when it comes to setting card interchange fees. Only by making lawmakers feel the heat will the industry see meaningful change.

Federal Reserve Governor Lisa D. Cook highlighted concerns over private credit growth, commercial real estate distress and escalating cyber threats in remarks on financial stability at the Brookings Institution Wednesday.

Federal Deposit Insurance Corp. Chair Martin Gruenberg will testify next week in Congress. Those hearings — which will come after the publication of a bombshell report detailing widespread misconduct at the agency — could signal whether he has a future at the FDIC.

McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.