Politics

District attorneys in the Golden State are tangling with Credit One Bank over its debt-collection practices. The bank says the prosecutors have overstepped, but Democratic Attorney General Rob Bonta argues that the legal action should continue.

10 things to know in May: The Credit Union Women’s Leadership Alliance is set to launch its coaching program, U.S. Senate confirms first Black appointee to Federal Reserve, and more.

President Biden used a rare meeting with Federal Reserve Chair Jerome Powell to declare that he’s respecting the central bank’s independence — while simultaneously shifting responsibility for taming decades-high inflation ahead of the November midterms.

Regulators must be cognizant of any threat that could harm the financial sector while resisting the urge to overstep their authority to set policy that should be decided by Congress.

Strong climate policy and continued development of stress-testing tools by central banks are essential to transitioning to carbon neutrality.

The government-sponsored enterprises will start releasing information similar to what large banks already do, starting in the first quarter of 2023.

In testimony to the House Financial Services Committee, the Federal Reserve’s vice chair gave a thorough accounting of the Fed’s thoughts on issuing its own digital currency without committing to any specific course of action.

Bankers are not pleased with a new bill introduced by Maxine Waters, D-Calif. — aiming to help underserved markets — that would expand credit unions' membership and remove restrictions on their business lending.

The National Flood Insurance Program has been without a long-term reauthorization for five years, and it seems poised to stay that way after its first congressional hearing since 2019. 

Researchers may now have more leeway in helping banks uncover vulnerabilities to their systems, but legal gray areas remain.

Heartland BancCorp recently added Republican Lt. Gov. Jon Husted to its board of directors. One government watchdog group said the move raises questions about potential and perceived conflicts of interest.

The bureau’s new office of competition and innovation will promote competition, host events and seek to make it easier for consumers to switch financial providers.

Former FHFA director Mark Calabria said the mortgage market was a “ticking time bomb” on track for a 2008-like crisis. Other experts foresee a tamer end to the bull housing market.

In a 5-4 Supreme Court decision two years ago, the bureau’s rulemakings survived intact. But a pair of pending cases that challenge the agency's funding through the Federal Reserve are again seeking to invalidate every action the CFPB has taken since 2010.

The Congressional Black Caucus is requesting a meeting with President Biden to press the case that canceling student-loan debt is a racial equality issue.

The Biden administration’s pick for Federal Reserve vice chair for supervision faced questions about climate change, digital assets and the central bank’s independence. But he did not meet the same resistance from Republicans as the White House’s first choice, Sarah Bloom Raskin, observers said.

Senate Majority Leader Chuck Schumer and fellow Democrats Elizabeth Warren and Raphael Warnock support $50,000 in student debt relief, which is five times what the president has indicated he would support. 

While red states like Florida have embraced the cryptocurrency industry, officials in New York and Illinois are taking action on Democratic Party priorities such as diversity and climate change. Here's a look at some hotbeds of innovative policymaking.

Mastercard said it would help pay for workers to travel to access abortions if pregnancy terminations aren’t available in their home state.