Politics

Government-operated payment systems aren't necessary and reduce choice, competition, innovation and value for consumers, businesses and banks.

The high court's inevitable decision on the constitutionality of the Consumer Financial Protection Bureau's funding structure will tell us a lot about how radical the court is willing to be.

A bill introduced by Sen. Dave Min would prohibit banks that invest in gunmaking from working on any aspect of state public finances, including bond sales.

The Consumer Financial Protection Bureau has asked the high court to overrule a lower-court decision that threatens its funding structure. The justices didn't accept the case on Tuesday, but experts say it could still make the cut in the coming week.

The Wyoming-base crypto bank accused the Federal Reserve Board of working with the White House to block its access to the central bank's services.

The departure of the Federal Reserve's No. 2 could have a profound impact on who steers its policymaking efforts on several key issues, including revamping the Community Reinvestment Act and FedNow.

Sen. Elizabeth Warren, D-Mass., specifically called out acting Comptroller of the Currency Michael Hsu, saying that he "needs to learn how to say no to anticompetitive bank mergers."

The Federal Reserve vice chair's departure creates an opening in the Board of Governors' second-in-command position.

The Federal Housing Finance Agency may have gotten more than it bargained for in its review of the Home Loan banks, but there is little doubt that the effort will result in significant structural change.

Senate Banking panel ranking member Sen. Tim Scott, R-S.C., called on Securities and Exchange Commission Chairman Gary Gensler to appear before the committee.

Federal Home Loan banks aren't doing enough to address the shortage of affordable housing in the U.S., FHFA Director Sandra Thompson says. Some of their members are instead using advances to manage liquidity and perhaps engaging in crypto-related and other activities that put the Deposit Insurance Fund at risk, she says.

Two proposals by Democratic state senators would force companies doing business in the Golden State to report greenhouse gas emissions and disclose climate-related financial risks. The banking trade group opposed similar efforts two years ago.

The New York City Banking Commission will now require banks seeking access to municipal deposits to provide detailed plans about how they are combatting discrimination. The commission is also implementing a public comment process as part of its process for determining which banks are eligible.

As the Office of the Comptroller of the Currency rethinks its bank merger framework, the standard metric for determining a bank's deposit concentration in a merger review is increasingly irrelevant, officials say.

In a speech on digital assets and decentralized finance, the Federal Reserve Board governor said the underlying technology of the volatile sector has value.

Federal Housing Finance Agency Director Sandra Thompson said that Federal Home Loan Banks benefit from the implied guarantee of the U.S. government.

The agency needs to demonstrate the moral courage necessary to break up unmanageably large banks.

The Community Bankers Association of Illinois is calling on regulators to issue guidance that would make large financial institutions toughen customer verification and be more cooperative in resolving disputes over falsified checks.

In remarks delivered at an agribusiness conference in Arkansas, the Federal Reserve Board member signaled that high financing costs are not going away anytime soon.

Markets are beginning to price in a higher federal funds rate target as Federal Reserve officials hint at more restrictive policies to tamp down inflation.