Politics

The Federal Reserve Board governor also called for the Fed to commission an independent investigation into the failure of Silicon Valley Bank.

Speaking before the International Swaps and Derivatives Association's annual meeting, Treasury Undersecretary for Domestic Finance Nellie Liang said liquidity and interest rate risk in the banking sector is being managed, but said fears of risk mounting in the nonbank sector are a source of concern.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

House Financial Services Committee's Oversight and Investigations Subcommittee Republicans tried to pin down the Government Accountability Office on Federal Reserve criticisms, while Democrats stressed debt ceiling worries.

Democrats and Republicans each said the other party's position on ESG investing carries additional costs for states.

The House Financial Services Committee's Subcommittee on Financial Institutions and Monetary Policy released a number of discussion drafts that would increase transparency requirements at the Federal Deposit Insurance Corp. and the Federal Reserve.

The move cancels the fee Fannie Mae and Freddie Mac would have imposed on certain loans for which the borrower's total debt exceeded 40%.

Gov. Jay Inslee has signed a law that will offer loans to minority borrowers to help cover down payments and closing costs. Supporters say it will benefit groups that were victimized by racially restrictive real estate covenants.

Antiquated rules separating banking and commerce are preventing an infusion of capital that would revitalize the banking market.

Sen. Elizabeth Warren, D-Mass., led a group of Democratic lawmakers in writing to executives of large credit card issuers on their late fee policies and costs.

Banks and market watchdogs are laying a lot of the blame for volatility in regional bank stocks on short sellers. But if regional banks and regulators want to get even, all they have to do is stay strong.

Regulators' de facto ban on bank mergers and acquisitions is not just harming individual institutions. It poses systemic risk.

The Fed's report on the failure of Silicon Valley Bank describes a "shift" in supervisory culture that began five years ago. Some say the issue is much older than that.

The New York attorney general's office released draft legislative language to regulate cryptocurrencies, addressing various concerns about the industry but potentially conflicting with the state's existing crypto licensing regime.

The Federal Reserve claims to want to encourage the formation of de novo banks, but its treatment of Custodia Bank calls that commitment into question.

The Federal Deposit Insurance Corp. is poised to exempt smaller lenders from kicking in extra money to replenish the government's bedrock Deposit Insurance Fund, and instead saddle the biggest banks with much of the bill.

The FDIC's recent proposal to provide business accounts targeted deposit insurance coverage up to ten times the current rate is gaining traction among industry experts. But a great deal rests on the details, and any reform will probably have to wait until after 2024.

Former First Republic CEO Mike Roffler told regulators earlier this year that the bank could fail according to its resolution plan, but the institution still needed extra help to stay afloat long enough to organize a sale without further harming the financial system.

The placement of Wells Fargo, JP Morgan Chase, and Bank of America on the list makes them ineligible for state and local government contracts.

Changes to loan-level price adjustments are perfectly consistent with the FHA's mission and with the safety and soundness of Fannie Mae and Freddie Mac.