Politics

Federal Reserve Vice Chair for Supervision Michael Barr said his "holistic" review of capital standards is still underway, but noted the benefits of stronger requirements in a speech Thursday.

The Worldwide Foundation for Credit Unions' Fuel Disbursement Program provided more than 160 farmers with roughly 17,000 gallons of pre-paid fuel. Other groups are supplying computers and printers to help the country's domestic credit unions remain operational.

Financial technology companies that distributed Paycheck Protection Program loans often employed lax oversight that allowed fraudsters or ineligible individuals to receive relief funded by taxpayers, a congressional report found.

University of Chicago economist Austan Goolsbee previously served as chair of the White House Council of Economic Advisers during the Obama administration.

The Biden administration's student loan forgiveness plan remains stalled, after the 5th U.S. Circuit Court of Appeals refused to lift an order blocking the sweeping program.

Federal Reserve Chair Jerome Powell said that interest rates could climb less quickly as early as December, but warned that cutting rates "is not something we want to do soon."

Banks are developing technology to identify potential mass shooters, according to a CEO backing the push to get credit card companies to track gun purchases more closely.

Janet Yellen said Wednesday she intends to stay on as Treasury secretary in Joe Biden's administration, seeking to put to rest rumors of her departure following the midterm elections. 

In a letter to Treasury Secretary Janet Yellen, Sen. Sherrod Brown, D-Ohio, said regulators should have supervisory authority over crypto activity.

Policymakers from across the ideological spectrum can work in tandem with banks to ensure every American has access to the financial tools they demand and deserve.

The Inflation Reduction Act is starting to change the way bankers view their climate targets.

The Federal Deposit Insurance Corp. lacks a board member with state banking regulatory experience as required by law, the Conference of State Bank Supervisors says. None of President Biden's picks — including acting Chair Martin Gruenberg — meets that criterion.

"The way we are living is not sustainable; we have to change," said Dominic Ng, who shared the major issues he plans to address with the Asia-Pacific Economic Cooperation's Business Advisory Council in 2023.

The three megabanks will see their surcharges rise by 50 basis points, according to a new analysis of regulatory data. The Federal Reserve assesses the levies as a way to compensate for the impact that the collapse of a global systemically important bank would have on the financial system.

Payment firms including Mastercard and Block are banding together with fintech companies to press Canada to move faster on rules that may boost competition in financial services.

President Andres Manuel Lopez Obrador said he approves of the two known remaining bidders for Citigroup's Mexican retail unit, after other potential buyers were derailed amid strict conditions put forth by Mexico's leader.

BlackRock and UBS Group are among major financial firms taking steps to be removed from a list of companies that Texas has classified as "boycotting" the fossil fuel industry.

As the central bank considers publishing a list of account holders and applicants, parties on both sides of the industry would like it to go even further.

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.

Sens. Elizabeth Warren and Sheldon Whitehouse, both Democrats, have asked the Justice Department not to pull any punches as it investigates and seeks to hold accountable the executives at FTX who contributed to the crypto company's demise.