Politics

Repo markets and the bank deposit business, in particular, would be upended if the U.S. were to default on its debt, experts say.

The decision does not end the digital-asset bank's goal of gaining access to the central bank's payment system, but it does make its road to approval more difficult.

On Tuesdays, this band of seven Republican senators, which includes some of the chamber's leading obstructionists, meets to plot ways to extract austere spending concessions from Democrats in exchange for their help in averting a catastrophic U.S. payments default.

Ultraconservatives in the House have dominated the public discussion on the U.S. debt ceiling, but Speaker Kevin McCarthy can't afford to ignore GOP centrists if the country is to avoid a catastrophic payments default later this year.

Sen. Elizabeth Warren said Silvergate's connection with crypto and the traditional banking system raises the specter of a crypto collapse.

Senate Democrats and banks want to subject industrial loan companies to Fed supervision, but even without legislation observers say the FDIC is skeptical of new applications.

Federal Reserve Vice Chair Lael Brainard is a top contender to become the head of the White House's National Economic Council, according to people familiar with the deliberations.

California Attorney General Rob Bonta is standing by the state's commercial financing disclosure law, urging more protections for small-business financings and arguing that federal consumer law does not not apply to commercial lending.

After months of forecasting and bracing for a recession in 2023, the economy seems increasingly durable. But it depends on what you're looking for.

Treasury Secretary Janet Yellen advised Congress that her department is deploying an additional accounting maneuver to avert breaching the federal debt limit.

The Federal Reserve's quantitative-tightening program risks being propelled toward an early end as U.S. politicians bicker in Washington over raising the national debt limit, according to some economists and bond market participants.

Working appraisers say government efforts to curb discrimination are pressuring them to inflate values, putting banks and borrowers at risk.

The Consumer Financial Protection Bureau sent a memo asking employees to take a survey that will help the Office of Personnel Management formulate a coordinated governmentwide policy.

More than half of all cross-border payment fees are concealed in exchange rate markups that few consumers understand.

The implosion of the digital-asset exchange FTX shows that U.S. platforms should face heightened scrutiny from the Commodity Futures Trading Commission before being able to list crypto assets, according to one top official at the regulator.

Speaking at an event hosted by the Council on Foreign Relations, Federal Reserve Gov. Christopher Waller said the Federal Reserve has a long runway for its balance sheet reduction.

A proposal by the Consumer Financial Protection Bureau to rein in credit card late fees could result in changes to a "safe harbor" that would favor consumers rather than financial institutions.

In a speech delivered Thursday afternoon, the Federal Reserve's vice chair said she does not see a wage-price spiral driving inflation, but rather a "price-price spiral."

The U.S. government reached its limit on how much money it can borrow on Thursday, teeing up a high-stakes battle in Congress.

The Consumer Financial Protection Bureau says companies need to clearly and conspicuously disclose terms of subscription services and get informed consent from consumers.