Politics

Leaders of the Bank Policy Institute and The Clearing House say their conferences are neither profit centers nor potential conflicts of interest for regulators in response to a recent BankThink piece that describes the meeting as an example of overly cozy relationships between banks and regulators.

The 117th Congress has been surprisingly kind to the banking industry as a whole so far. Can the trend last through the fall? 

A gathering in New York next week demonstrates the pay-to-play culture of high-end banking conferences.

With taxpayer dollars and creative deals, these nonprofit funding institutions can help recruit private-sector capital off the sidelines and into underserved markets, leveraging as much as $8 in private funding for every $1 that comes from the government.

The reduction in banks' assessments marks the fourth time in four years that the OCC has cut the semiannual regulatory fees that fund supervisory work.

The Federal Reserve will roll out its much-anticipated instant payments system, known as FedNow, in the middle of next year. Yet many questions remain about who it will serve, how it will work and how quickly community banks will buy in to it.

Goldman Sachs Group is tapping the former No. 2 official at the International Monetary Fund and veteran of the Trump administration's trade wars with China to strengthen its ties with international governments.

The move comes amid dwindling advances and a growing concern that the Home Loan banks are participating in riskier investments.

The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair. 

The Federal Reserve is closing in on the launch of its real-time payment settlement system next year. By that time it will be six years behind the private-sector alternative, and it could prove to be redundant to a future Fed-issued digital currency.

A group of 18 U.S. representatives is demanding Credova Financial answer questions about its no-interest financing options for the purchase of guns and ammunition.

The Securities and Exchange Commission is facing a legal challenge from groups that argue rules meant to diversify the boards of banks and other publicly traded companies amount to discrimination.

Federal Reserve Vice Chair Lael Brainard said Monday that the central bank's real-time payments network will go live between May and July of 2023 and financial institutions should prepare themselves right away.

Sen. Elizabeth Warren, who lobbied hard for President Biden to forgive $50,000 in student loan debt per borrower, said his much smaller plan can still address racial and gender wealth inequality and help tame inflation.

President Biden's plan to provide relief for student loan borrowers will cost about $24 billion per year, the White House now says, a figure markedly lower than private estimates.

JPMorgan Chase, which has mostly been absent from the business of underwriting Texas municipal bonds for the past year, plans to revive its work with the state and its local governments soon.

The crypto industry yearns for clarity on stablecoin regulations, but allowing the central bank to set the rules of the road would stifle innovation.

From consumer credit to deposits to inflation, President Biden's move to excuse up to $20,000 in student debt per eligible borrower will have ramifications throughout the banking sector.

The new law relies partly on U.S. companies paying higher taxes to raise money for climate change and health care initiatives. Here's how banks will be affected.

Texas is taking steps that could cost BlackRock, UBS Group and eight other finance firms business with the state after finding them to be hostile to the energy industry.