Politics

The central bank granted 15 large banks eight additional months to prepare their resolution plans. Federal regulators are currently weighing changes to their resolution planning framework.

Federal Reserve Gov. Michelle Bowman, a vocal opponent to the proposed risk capital rules for large banks, said she still sees a path forward for capital reform.

In official comments on bank regulators' Basel III endgame capital proposal, concerns are being raised by a wide array of stakeholders — including civil rights advocates and consumer advocacy groups — suggesting major amendments or re-proposal may be necessary for the rule to cross the finish line.

Despite widespread impressions that the economy is proving resilient and a "soft landing" is possible, banks are decidedly pessimistic about the economy.

The Federal Reserve governor was one of two to vote against issuing the so-called Basel III endgame proposal. He says work is being done to address issues with the operational risk framework, but that regulators may need to go back to the drawing board for an adequate fix.

The Federal Reserve's inexplicable failure to enforce rules requiring Silicon Valley Bank Financial Group to serve as a "source of strength" for its subsidiary saddled the FDIC with billions in extra losses.

A coalition of financial trade groups issued a joint comment letter asserting that the federal bank regulators' proposed capital rule lacked justification and evidence required by the Administrative Procedure Act, threatening legal action if regulators don't delay and significantly amend the rule.

Navy Federal, the nation's largest credit union, is facing a lawsuit about its allegedly discriminatory mortgage lending practices.

The internal watchdog called for new standards for staff handling of controlled unclassified information.

The Senate on Wednesday fell short of the two-thirds majority needed to override President Biden's veto in December of a Republican-led resolution to gut the small-business data collection rule using the Congressional Review Act.

John Williams, who also serves as vice chair of the Federal Open Market Committee, does not expect the Federal Reserve to slow its balance sheet runoff anytime soon.

Like a ratchet, price controls in the payments industry move only one way, destroying value and reducing incentives for innovation.

Republican lawmakers spelled out concerns that the Financial Stability Oversight Council's ability to designate nonbank financial companies as systemically important could circumvent the lawmaking process when it comes to cryptocurrency.

Federal Reserve Vice Chair for Supervision Michael Barr said feedback received will be incorporated into the final version of the capital reform rule.

An initiative in Baltimore to use blockchain tech to track and manage vacant properties is a prime example of how blockchain can help solve stubborn problems, even if it isn't ready to revolutionize the fundamentals of commerce.

With the retirement of Rep. Blaine Luetkemeyer, R-Mo., the number of Congressional representatives with direct banking experience is becoming increasingly rare.

The president of the Federal Reserve Bank of Dallas and former manager of the central bank's open market account said a slower approach to balance sheet reduction may be warranted sooner rather than later.

Banks need to mount an aggressive legal response to the onslaught of intrusive new rules being promulgated by their prudential regulators.

A bill before the state legislature would create a public infrastructure bank, where municipalities could go to finance projects from affordable housing to bridges.

The use of digital wallets to finance the Hamas attack on Israel highlights the need for tighter controls on the transfer of cryptocurrencies.