Politics

The GOP senator's push comes as UBS continues withholding records tied to predecessor Credit Suisse's World War II-era dealings.

Heading into this week's Federal Open Market Committee meeting, the Fed's core indicators are painting a different picture of the economy than real-time measures, injecting more uncertainty into Wednesday's FOMC meeting than usual.

A primary criticism of stablecoins harks back to the era of free banking, when individual banks printed their own notes. But that era of private money bears little resemblance to the modern realities of stablecoin issuance.

In a recent survey of community bank executives, 84% said they agreed with the Federal Reserve that changes are necessary, but the results show a wide range of views about what exactly those changes should be.

Some ultrahigh net worth clients would be affected by a change to retirement plan contribution and distribution rules that's under consideration in Congress.

President Trump's nominee to lead the Consumer Financial Protection Bureau disclosed that he's been paid by numerous financial firms regulated by the agency he is expected to lead.

The House Financial Services Committee's Republican majority backed slower funds availability and declined to shift authorized-scam losses onto banks.

As governors prepare to designate new "opportunity zones," lenders and investors should take advantage of the chance to target capital to communities where it will both do good and generate strong returns.

Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.

Banks can price in risk and manage their way around both left-wing and right-wing administrations. But the kind of uncertainty that arises from today's brand of politics is impossible to model.

A Securities and Exchange Commission proposal to change reporting requirements for public companies has drawn mixed reactions, with some groups warning that reduced transparency could harm markets.

The Senate Banking Committee will hold a hearing Thursday on whether to confirm Brian Johnson, a former Capital One executive and deputy director of the Consumer Financial Protection Bureau in Trump's first term to lead the agency permanently.

Following a recent approval by the European Central Bank, Banco Santander's pending acquisition of Webster Financial is expected to close before the end of 2026, executives said. There's been concern that the deal could get tangled up in tensions between the U.S. and Spain.

Draft cryptocurrency market structure legislation published Wednesday includes an ethics agreement that falls short of what Senate Democrats want and stablecoin yield language that banks have already disavowed.

The package of banking measures will need 60 votes — including a number of Democrats — to pass the Senate on a tight time frame ahead of November's elections. But the bipartisan House vote signals that future work on the issues is possible.

House Republicans floated discussion legislative drafts aimed, in part, at strengthening the Federal Home Loan Banks' role providing liquidity to the financial system.

Efforts by individual states to rewrite existing rules governing interstate bank lending risk throwing the entire system into chaos. Only Congress has the ability to reestablish a workable set of national rules.

At a House hearing last week, GOP lawmakers asked Russell Vought, the acting director of the Consumer Financial Protection Bureau, for advice on how to craft legislation to permanently change the CFPB's authority. The hearing highlighted a consensus among Republicans that administrative policy rollbacks are not enough.

The new Main Street Capital Access Act includes a provision that lowers the regional Federal Reserve banks' discretionary surplus, as well as a number of technical changes that committee aides hope will pry loose a few more Democratic votes.

The new law's reciprocal and custodial deposit provisions recognize what the evidence has shown for two decades. They should spur, not substitute for, the broader work of protecting America's depositors.