Politics

Senate Banking Committee Chair Tim Scott, R-S.C., told reporters that community banking didn't fit into the housing package moving forward in the upper chamber, but that he's in discussions with House leaders and the White House to move a separate financial services package.

Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., released new legislative language Monday night that includes a ban on institutional investors' purchase of single family homes and a temporary ban on the Federal Reserve issuing a Central Bank Digital Currency.

Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday that the central bank is considering a "fundamental reform" of the discount window, including streamlining rules and processes across the Fed system.

The Block CEO said companies will need fundamentally fewer workers in the AI age. The question is, how many fewer?

If the next phase of digital money policy is to succeed, it must grapple with a simple truth: People do not experience money through legal categories. They experience it through use. That's a fact that supervision must account for.

Experts say that compliance with a potential executive order being considered by the White House that would require banks to collect citizenship information would be costly, especially for community banks.

The Iran conflict is more likely to have an indirect effect on banks, one that may take years to show up as the ramifications filter through the economy

Markets were bracing for the chaos of a regional war; banks may be the target of sophisticated cyberattacks, experts warn.

Though changes to bank capital rules previewed by Federal Reserve Vice Chair for Supervision Michelle Bowman in February are being viewed as welcome, experts say other more significant hurdles — not all of them regulatory — are keeping banks on the sidelines of mortgage servicing and lending.

The proposed national trust charter company would be a wholly owned subsidiary of Morgan Stanley. The application was filed on Feb. 18.

A final rule published by the Office of the Comptroller of the Currency Friday will formalize a 2021 interpretive guidance allowing national trust banks to perform non-fiduciary custody. The banking industry complained that the rule runs counter to the traditional scope of the charter. 

Experts said that judges reviewing ongoing litigation between the Consumer Financial Protection Bureau and its employee union seem inclined to allow reductions in force to proceed if the CFPB presented a credible plan for running the agency.

MBS buying has become the near-term focus but a 2026 offering is still possible, Federal Housing Finance Agency official Bill Pulte told Fox Business.

Senate Majority Leader John Thune, R-S.D., moved to consider the housing package next week, but it's not clear what version of the bill senators will be voting on as the House, Senate and White House are still negotiating priorities.

The agency's 400-page GENIUS Act proposal sets capital, reserve and operational rules to govern how stablecoin issuers may operate. 

The bill, offered by Sens. Catherine Cortez Masto, D-Nev., and Todd Young, R-Ind., would allow Federal Home Loan bank members to establish tax-exempt community infrastructure development bonds.

Comptroller of the Currency Jonathan Gould took several assertive stances at a Senate Banking Committee hearing Thursday, minimizing concerns about banks' potential compliance costs to collect citizenship data and sidestepping questions about World Liberty Financial's trust charter application.

For the first time since early September 2022, the Freddie Mac Primary Mortgage Market Survey has the 30-year below 6%, but the 15-year gained this week.

The heads of the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration, as well as the Federal Reserve vice chair for supervision, will testify in the Senate Thursday morning in their first joint appearance in the upper chamber since being confirmed.

Banks, trade groups and regulators are eligible to join a group convened by Treasury's Financial Crimes Enforcement Network, or Fincen, which will weigh in on anti-money-laundering rules, Bank Secrecy Act modernization and implementation of a recently passed stablecoin bill.