Politics

Since her 20s, Wechter has served as a sounding board to Chairmen Richard Parsons and Mike O'Neill and CEOs Michael Corbat and now Jane Fraser. Wechter, 41, eventually took over the human resources department, where she has set in motion changes reshaping life at the bank for its 238,000 employees.

Most theories of the case for ESG investing demand that companies act in ways that are counter to the interests of their shareholders.

Institutions outside the U.S. are holding an estimated $65 trillion in "missing" dollar debt off their balance sheets through currency derivatives, making it harder for global policymakers to anticipate the next financial crisis.

A new business group led by Republican heavyweights will launch its first seven-figure ad campaign this week. The target: legislation taking aim at a key source of revenue for Visa and Mastercard.

The Federal Reserve Board of Governors voted 6-1 to seek public comment on a new regulatory framework for climate-related financial risks. The requirements would add to existing risk management standards.

There's an opening for Congress to pass a narrow digital-asset regulation bill before the year's end after the collapse of the crypto exchange FTX, Sen. Pat Toomey said.

Protecting depositors' stablecoin holdings could be the difference between providing the economy with a new boost and creating unnecessary drag.

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.