Politics

Officials from the Fed, FDIC and OCC said proposals allowing banks to get Community Reinvestment Act credit for lending and other activities conducted outside their immediate assessment areas could create “powerful incentives” to invest in Native communities.

Gov. Kathy Hochul’s latest effort to increase affordable banking access directs New York’s banking regulator to examine total overdraft fees paid in the state, the percentage of fees reduced through negotiations and other related matters.

The Federal Reserve Board will enter next week’s Federal Open Market Committee meeting with a full complement of governors for the first time since 2013.

Alloy, Marqeta and other technology firms drafted policies to assist employees in states that restrict abortion access, even before they had all the answers.

The comments from the agency's under secretary for domestic finance came as it issued a request for feedback on the risks and opportunities of digital assets.

At a minimum, the court’s ruling will create confusion and invite endless litigation.

Lawmakers and regulators alike appear increasingly unlikely to make significant progress in crypto policy before autumn, frustrating analysts and advocates alike.

Several groups raised concerns at a public hearing about the Canadian bank’s proposed acquisition of Bank of the West. They accused BMO of shortcomings in its mortgage lending to Black and Latino borrowers and said they won’t support the deal without the bank's firm commitment to help underserved communities.

In a letter calling for the Federal Reserve Board to establish penalties for officials who violate new ethics policies, Senate Banking Committee Chairman Sherrod Brown and other Democrats expanded their push for enhanced Fed accountability.

The Polish American Credit Union Support Fund is gathering donations from members to help purchase ambulances and medical supplies, while also securing more stable housing for those fleeing the conflict.

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.

The Federal Reserve has aggressively ratcheted up interest rates to tame inflation. But that swift turnaround after more than a decade of accommodative monetary policy could create new risks to the financial system.

Anne Balcer, formerly of Forbright Bank, will take on the role previously held by Karen Thomas, whose retirement was announced last month.

The agency’s mission is popular with the public, which has a long memory when it comes to the past misdeeds of the banking industry.

In a speech at the Bank of England, the vice chair of the Federal Reserve Board gave her strongest endorsement to date for the benefits of a central bank digital currency. 

After the Supreme Court struck down an Environmental Protection Agency rule, legal observers are wondering how far the justices will go to rein in the authority of financial regulators. A Securities and Exchange Commission proposal on climate risk disclosures could become a test case.

U.S. senators led by Democrats Bob Menendez, Elizabeth Warren and Jack Reed told seven of the country’s biggest banks they must do more for consumers defrauded by scammers on Zelle, the person-to-person payments network the firms jointly own.

Former Federal Reserve Gov. Daniel Tarullo and two Fed economists argue that the Federal Home Loan banks have expanded into activities that pose risks to financial stability.

Citigroup’s planned sale of its Banamex unit should go to Mexican investors and avoid mass firings, Mexican President Andres Manuel Lopez Obrador said, adding new restrictions that may undermine some of the bids.