Politics

The Trump administration will not approach economic policy like the Federal Reserve does, but the central bank can still address its own problems before the new administration intervenes.

There was another surprise Tuesday as Republicans managed to keep a Senate majority following the elections, likely giving the gavel of the Banking Committee to Sen. Mike Crapo, a right-of-center Idaho lawmaker who has proven willing to reach across the political aisle in the past.

The New York real estate mogul Donald Trump defied all conventional wisdom by winning the presidency, a huge upset that is sending shock waves through the political and policy establishment. During the campaign, Trump eschewed providing details on many issues, instead just providing a broad outline of his policy positions. Following is a guide to what Trump has said.

A lot of analytical horsepower is being spent on what will happen to the markets after the election, but it seems to make more sense to talk about what will not change for consumers, investors and financial institutions.

If Sen. Sherrod Brown becomes chairman of the Senate Banking Committee, he is likely to focus on toughening rules on the biggest banks, conducting oversight of scandals like the one at Wells Fargo and granting regulatory relief to smaller institutions.

In a speech defending his support of Republican presidential nominee Donald Trump, PayPal co-founder Peter Thiel faulted both major parties for letting recent financial bubbles occur under their watch.

Progressives are already pushing Democrats to appoint another Wall Street reformer to the Banking Committee if they win back the Senate, but other considerations, including the 2018 midterms, will play a significant role in who is chosen.

A win by Hillary Clinton would be something of a mixed bag for bankers. On the one hand, she's a moderate with detailed policies, many of which are bank-friendly. Yet she may also be pushed to the left as she navigates issues, particularly on regulatory appointments.

A survey of more than 300 bankers reveals deep industry skepticism, whether of Clinton's pledge to pursue regulatory relief or Trump's claim that the Fed was playing politics with interest rates. Coming this week: what a Clinton or Trump victory would mean for banks.

WASHINGTON — Securities and Exchange Commission Chair Mary Jo White should be demoted as head of the agency because of her lack of support for a rule that would require companies to publicly disclose their political spending, Sen. Elizabeth Warren, D-Mass., said Friday.

WASHINGTON — Democratic presidential nominee Hillary Clinton would engage in a review of financial regulations and simplify or eliminate those that are found to be unnecessary if she is elected president, a top adviser said Thursday.

The former secretary of state used the Wells enforcement action to call for tougher standards on Wall Street, restraints on the use of forced arbitration clauses and continued defense of the Consumer Financial Protection Bureau.

Republican presidential nominee Donald Trump used the first debate late Monday to attack the Federal Reserve Board, reiterating accusations that it has purposely kept interest rates low to help President Obama.

Democratic presidential candidate Hillary Clinton released an open letter to Wells Fargo customers Tuesday in which she called the phony account openings "deeply disturbing," defended the Consumer Financial Protection Bureau and demanded that individual executives be held accountable.

House Democrats made an unusual move this week to avoid offering amendments or engaging in debate over a massive financial reform bill. Here's why.

Chairman Jeb Hensarling's financial reform bill was approved by the Financial Services Committee along mostly party lines as Democrats declined to offer amendments to legislation they said was too flawed to begin with.

Democratic lawmakers are calling for Wells Fargo Chief Executive John Stumpf to testify before a Senate panel as part of an investigation into nearly 2 million fraudulent bank and credit card accounts that Wells employees opened in an effort to meet sales incentives.

Though no legislation is likely to pass prior to the election, lawmakers will be busy throughout September with hearings featuring top Federal Reserve Board officials and voting on a much anticipated financial reform bill. Here are five things to keep an eye on.

Hillary Clinton's proposal for regulatory relief for smaller institutions largely tracks with ideas already discussed, but her backing could keep alive the momentum for a reg relief plan should she win in November.

Democratic presidential nominee Hillary Clinton again pledged Tuesday to grant relief to small banks and credit unions if elected president, making her most high-profile commitment to the idea yet — but analysts were skeptical of her ability to get it across the finish line.