Politics

Congress will eventually turn its attention to the fact that taxpayers are subsidizing payments to large financial institutions.

JPMorgan Chase is set to add another 20 people to its Saudi Arabia operation by the end of the year as it looks to capitalize on one of the world's few bright spots for equity capital markets, despite simmering political tensions between U.S. President Biden and Saudi Crown Prince Mohammed Bin Salman.

Attorneys general from 19 states issued subpoenas to six large banks seeking information about their climate policies. They say they're seeking to hold banks accountable for the fairness of their ESG policies to fossil-fuel companies, but others call it intimidation.

U.S. central bankers said the next phase in their campaign to curb inflation will be to debate how high to raise interest rates and when to slow the pace of increases.

A federal judge dismissed a lawsuit by six Republican-led states challenging President Biden's student-loan forgiveness plan, finding the states failed to show they'd be directly harmed.

One year after from President Biden's executive order on Section 1033 of the Dodd-Frank Act, there has been no discernible progress.

The Consumer Financial Protection Bureau's rules and enforcement actions to date could be open to legal challenges by banks and other companies after a three-judge panel deemed the agency's payday lending rule unconstitutional because of the way the agency is funded, legal experts say.

Federal Reserve Bank of St. Louis President James Bullard's reported speaking engagement at an invitation-only private event hosted by Citigroup last Friday may have violated the central bank's communications guidelines, central bank watchers said.

If stablecoins facilitate payments in the future it could have broad implications, acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said.

Any limitations on the distribution of pandemic relief and other payments are the result of instructions from the IRS, or the Federal Reserve's failure to operate a 24/7 payments system — and not shortcomings of the automated clearing house network, writes the head of Nacha.

The U.S. Court of Appeals for the 5th Circuit overturned a lower court's ruling, declaring the agency's funding structure and its 2017 payday lending rule invalid.

A Wisconsin taxpayers group asked the U.S. Supreme Court to block President Biden's student-loan relief plan from taking effect, accusing him of usurping the power of Congress and costing taxpayers potentially more than $1 trillion.

JPMorgan Chase has hired a new head of digital assets regulatory policy, less than a month after CEO Jamie Dimon told lawmakers that cryptocurrencies are "decentralized Ponzi schemes."

War and the increase in anti-ESG sentiment in the U.S. are part of a new and "complex" set of hurdles making it much harder for Wall Street to meet the climate promises it's made, according to the chair of the Net-Zero Banking Alliance.

The SAFE Banking Act has been passable for almost a decade, but one thing or another has always gotten in the way. Congress should pass it now.

The Federal Deposit Insurance Corp. also approved the advance notice of proposed rulemaking for large-bank resolvability requirements and made some changes to its process for banks to appeal supervisory decisions.

The bank regulators said they are open to all possibilities as they sought input on potential changes to resolution policies for large regional banks, but that hasn't stopped policy specialists from reading between the lines.

Sen. Elizabeth Warren, D-Mass., has been raising the alarm bells about fraud on the bank-owned payments platform, but independently verifiable data that might inform policymaking is hard to come by.

The industry needs a leader to be the face of a lawsuit challenging the proposal. The author nominates JPMorgan Chase's Jamie Dimon.

The regulators laid out several measures that would change how large but not global systemically important banks capitalize and structure themselves.