Politics

Colorado Democratic Rep. Ed Perlmutter's pot banking bill would create legal certainty for banks to do business with the legal cannabis industry and reduce the industry’s reliance on cash. 

The senators called for the Consumer Financial Protection Bureau to consider more instant transactions to be categorized as “errors” or “unauthorized,” making them the responsibility of institutions rather than customers. 

Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the U.S. as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year.

Banks in the U.S. and Middle East continue to do what self-sanctioning is stopping their European counterparts from doing: financing the trade of crucial Russian crops and fertilizers.

HSBC has agreed to sell its Russian unit to local lender Expobank, the latest international bank to exit the country following its invasion of Ukraine.

Federal Housing Finance Agency Director Sandra L. Thompson told lawmakers on Wednesday that the agency would consider “foundational questions about mission, purpose, and organization” of the Home Loan Bank System.

The number of Federal Reserve banks should be cut in half and their bank regulatory responsibility should be transferred to other agencies.

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.