Politics

Rep. Blaine Luetkemeyer, R-Mo., was seen as a frontrunner to replace outgoing Rep. Patrick McHenry as the top Republican on the House Financial Services Committee before his announced retirement from Congress Thursday afternoon.

Federal Reserve officials point to overnight reverse repurchase agreement activity as an indication of excess liquidity, which the central bank is working to reduce. But some analysts say that excess liquidity may be drying up faster than expected, with important implications for banks.

James Gorman, chair and CEO of Morgan Stanley, expressed optimism in an interview Wednesday that the proposed Basel III endgame capital proposal would "definitely change" before it is finalized.

Banking groups endorse the proposed Fair Audits and Inspections for Regulators (FAIR) Exams Act, which calls for enhanced regulator transparency.

While much of the attention in next year's election is on the top of the ticket, there are several other important races in 2024 that banks need to keep on their radar.

EWA programs are not loans, no matter how loudly critics insist that they are. They provide a vital source of liquidity to hardworking families.

The Consumer Financial Protection Bureau will take a bite out of bank profits in 2024 by issuing final rules on overdraft and credit card late fees, among other major rulemakings.

The crypto landscape is poised for significant developments in 2024, including a focus on tokenization, legislative uncertainties, a regulatory tug-of-war between the SEC and CFTC, and a potentially bullish year for Bitcoin.

Federal regulators will look to finalize capital rules for banks with at least $100 billion of assets. Here's what to look for as the contentious regulations move through the rulemaking process.

The Investment Company Institute predicted a dire situation for bank loan funds should the SEC finalize an amendment that would reclassify many of these funds as illiquid.

CEOs, regulators, advocates, lawmakers: who will have the biggest impact on the banking industry this year?

The American Bankers Association requested that President Joe Biden tell Treasury Secretary Janet Yellen to study the impact of more robust bank regulation.

The policy, released Thursday by the New York Fed bank, takes effect Jan. 1. It details which records are subject to disclosure, rules for requesting them and certain exemptions, such as items related to "internal personnel rules and practices."

The resolution to nullify the CFPB's small-business data rule, which would require lenders to collect demographic information before making loans to small-businesses, passed in both chambers with some bipartisan support.

The Bank Term Funding Program, set up in response to this spring's run of bank failures, is poised to close down in March. With the Federal Reserve now forecasting rate cuts next year, the bar for renewing the facility's authorization could be a bit higher.

States need to think twice about allowing earned wage advance programs. They look increasingly like predatory lending.

A proposed reduction in the amount of overall discretionary spending amounts would hamper both agencies' ability to fulfill their affordable-homeownership missions, the consortium of housing industry advocates said.

The Consumer Financial Protection Bureau is appealing a lower court ruling that the agency exceeded its authority in bringing an anti-discrimination enforcement action against a Chicago mortgage lender after he made disparaging remarks about Blacks and Hispanics.

The Federal Open Market Committee meets Dec. 12 and 13 and in addition to their statement, they will issue a Summary of Economic Projections.

Sen. Elizabeth Warren, D-Mass., and other Senate Democrats urged the Office of the Comptroller of the Currency to rescind regulations or guidance that contradict the way Dodd-Frank says the OCC should deal with state consumer protection rules.