Politics

We can't afford to miss this opportunity to build capacity in community development financial institutions.

First elected to the House in 1992, Rep. Carolyn Maloney has played a key role in passing major financial legislation, including the 2009 "bill of rights" for credit card consumers. Rep. Jerry Nadler, another House veteran, won their intraparty clash forced by redistricting.

Banks have been barred from trading on their own account for almost a decade because Congress wanted to quash any potential conflict of interest. They should hold themselves to the same standard.

President Biden plans to make his long-awaited announcement on student debt relief Wednesday, according to people familiar with the timing.

Forgiving student loan debt will cost between $300 billion and $980 billion over 10 years, according to a new analysis, with the majority of relief going toward borrowers in the top 60% of earners. 

Banking trade groups are saying the Federal Deposit Insurance Corp.'s plan to increase the deposit insurance fund is poorly timed and based on flawed assumptions.

For a government agency that prefers to move gradually, the change at the top has come fast, thanks in large part to increased pressure in the wake of a national reckoning around diversity. But it has also fallen short in some ways.

A luxury yacht formerly owned by sanctioned Russian businessman Dmitry Pumpyansky will be sold at auction on Tuesday after the billionaire failed to repay JPMorgan Chase a loan, according to an auctioneer's website.

The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector. 

How many more decisions will CFPB Director Rohit Chopra make without appropriate stakeholder input?

The Federal Reserve looks to be paying closer attention to a potential pinch-point that rankled dollar funding markets almost three years ago and could at some stage become a catalyst for ending early officials' plans to shrink the U.S. central bank's expanded balance sheet.

U.S. central bankers offered divergent signals over the size of the next interest rate hike, with St. Louis's James Bullard urging another 75-basis-point move while Kansas City's Esther George struck a more cautious tone.

In their public battles over the issue of credit union buyouts of banks, bankers and credit union executives are forgetting to ask some key questions.

The law, signed by President Biden on Tuesday, represents the single largest investment towards climate preparedness in the history of the federal government.

There are numerous groups that would love for financial institutions to embrace their causes. But executives need to think through the potential consequences of becoming politically active.

A new bipartisan senate caucus organized around community development financial institutions is just the latest sign that the sector's political influence is reaching new heights. 

The Federal Reserve Board's new guidance comes as the central bank is slated to decide whether to grant Custodia, a Cheyenne, Wyo.-based crypto firm, a master account.

Rep. Carolyn Maloney has emerged as a champion of overdraft reform in the House but faces a challenging primary against fellow Democratic Rep. Jerry Nadler next Tuesday.

A growing number of Wall Street banks are willing to trade Russian bonds that were once viewed as untouchable.

An account of the debate at the Federal Reserve's July policy meeting, set to be published after two weeks of whiplash on Wall Street, will probably offer clues as to what would push the central bank to go big with tightening yet again in September.