Politics

The industry supports candidates on both sides of the aisle but has tilted toward Democrats during this cycle. Experts say that's partly a reflection of the current makeup of Congress.

Jamie Dimon, the chief executive of JPMorgan Chase, said he’s optimistic a Biden presidency could solve problems including health care and economic inequality without damaging businesses.

Ray McGuire, one of Citigroup’s top investment bankers, has been vocal about his ideas for improving education and access to health care in low-income and minority neighborhoods.

Even though financial institutions have "slightly" stepped up assessments of diversity practices, "we are not satisfied with the level of responsiveness,” a senior Federal Reserve official said in congressional testimony.

Friends of Traditional Banking is focusing on four GOP senators in tight races as it prepares to endorse two incumbents for the November elections.

Mike Duncan had kept a low profile as chairman of the U.S. Postal Service’s board of governors until it hired Louis DeJoy as postmaster general. Now he is sharing an unwanted spotlight with the embattled DeJoy.

Bankers have long opposed the idea of the U.S. Postal Service taking deposits and making loans directly, but some in the industry are open to the idea of letting banks and credit unions offer services at post offices.

Paralysis between Republicans and Democrats hurts the people who would benefit the most from digital delivery of government stimulus funds, argues Polyient Labs' Jeff Hinkle.

As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.

The House Financial Services Committee chair vowed to stay focused on the HEROES Act after the panel's top Republican said lawmakers should instead debate bills with bipartisan support.

Republicans still receive more money overall from bankers, but the gap is narrowing ahead of the November elections. Experts say that the trend corresponds with signs of a “blue wave” and that many in the industry prefer Democrats on nonregulatory issues.

Primary races in Alabama, Maine and Texas resulted in victories for candidates with support from the Credit Union Legislative Action Fund.

Despite success lobbying for PPP inclusion and the elimination of Regulation D, the industry must continue to push for additional reforms.

In one of Tuesday's more high-profile primaries, Rep. Kweisi Mfume won the Democratic primary to fill the seat once held by the late Elijah Cummings.

Chairman Jerome Powell said the Federal Reserve's actions during the coronavirus outbreak have been aimed squarely at helping U.S. workers, not Wall Street or wealthier Americans. He also said Friday that a new lending program geared toward middle-market firms is "days away" from getting up and running.

Industry groups also supported Democrat Christy Smith in a special election in California, though it appeared likely she would lose the bid.

The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.

The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul.

The former CEO at The Federal Savings Bank, who faces a bribery charge in connection with loans to President Trump's onetime campaign chief, is seeking to keep evidence from his phone out of the upcoming trial.

Financial institutions could testify before the bipartisan commission overseeing the unprecedented economic aid for industries hit by the COVID-19 pandemic. But without subpoena authority, the panel’s impact may be limited.