Politics

A full accounting of regulators' actions in the lead-up to the collapse of Silicon Valley Bank, as well as other recent bank failures, is necessary to restore public confidence in both the banking system and the government itself.

Once it is free to issue new debt, the Treasury Department is expected to quickly replenish its general account at the Fed. The move could lead to a shortage of reserves.

Like it or not, Big tech is going to become a player in financial services. It would be better to write rules now than to wait for a crisis.

The global accord's provision on supervision establishes broad authorities over risks not expressly covered in capital rules. The Federal Reserve's top regulator has already hinted that those authorities might be relied on more in the wake of this spring's bank failures.

The two banks failed to meet a requirement that they document their efforts to combat discrimination in lending and employment, according to city officials. KeyBank said the decision was the result of a misunderstanding.

House Financial Services Committee ranking member Maxine Waters, D-Calif., attempted to find bipartisan support from Rep. Andy Barr, R-Ky., for a number of amendments to bills meant to rein in regulators. What she got instead was a commitment to work on some measures in the future.

The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.

Pro-union workers at a Wells call center allege that supervisors repeatedly tore down flyers, violating their right to organize. The bank said it refuses to "tolerate retaliation of any kind."

Two years after Illinois became one of several states to pass their own version of the federal Community Reinvestment Act, credit unions and banks continue to fight over whether the law is necessary and how strict the corresponding regulations should be.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.

A string of bank failures has increased scrutiny of banks' underwater Treasury securities — holdings that have traditionally been viewed as risk-free. As regulators reimagine the bank capital framework, they should reconsider whether anything can or should be considered riskless.

"If the banking stresses start to bring inflation down for us, then maybe we're getting closer to being done. I just don't know right now," said Federal Reserve Bank of Minneapolis President Neel Kashkari.

The South Carolina senator — and ranking Republican on the Senate Banking Committee — formally entered the 2024 presidential race, becoming the latest candidate to challenge former President Donald Trump for the Republican nomination.

Banking regulators and executives from the three regional banks that failed this spring testified in a marathon of hearings this week. These are the four threads to emerge from those hearings that banks need to watch.

Sen. Elizabeth Warren, D-Mass., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg that large banks are "seeking to pay back the gap in the deposit insurance fund with devalued assets."

In a speech delivered to the Texas Bankers Association, the Federal Reserve governor called on bankers to create and test liquidity plans capable of weathering turmoil.

The CEOs of the nation's largest banks met with officials in Washington on Wednesday and Thursday, just two weeks before the government is expected to go broke. Behind the scenes, the banks are reviewing contingencies in case the unthinkable occurs.

During a Senate Banking hearing with regulators, Sens. Jon Tester, D-Mont., and Mark Warner, D-Va., raised concerns about sweeping policy changes, while bipartisan consensus emerged around curbing executive compensation.

Rep. Maxine Waters, D-Calif., posted the Democratic version of a stablecoin bill that has some differences with the Republican version led by Rep. Patrick McHenry, R-N.C. But those differences aren't insurmountable.

Rep. Maxine Waters is adding to the pressure that the North Carolina bank is feeling in connection with a community benefits plan that was mostly expected to benefit communities in California. First Citizens, which bought SVB from the FDIC, has so far been noncommittal.