Politics

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency are officially open to comments on their reform package for the enhanced supplementary leverage ratio.

The Senate Banking Committee is now proposing to cut the cap by which the Consumer Financial Protection Bureau can request funds from the Federal Reserve to 6.5% of the Federal Reserve's operating budget after its opening bid of 0% was rejected by the Senate parliamentarian.

The two government-sponsored enterprises are repositioning Common Securitization Solutions to align with priorities set by their regulator and President Trump.

For too long, America has taken a back seat to other nations when it comes to stablecoin regulation. Members of the House have the opportunity to rectify that problem by sending the GENIUS Act to President Trump's desk.

Gov. Mike Dunleavy, a Republican, vetoed a bill that would cap consumer loan rates at 36% APR, arguing it would restrict credit access for vulnerable Alaskans.

An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.

Federal Reserve Gov. Michael Barr — who until February served as the agency's top regulator — said community development functions have benefits for the Fed's monetary policy, supervision and research goals.

Lenders have been working to shrink their rent-regulated real estate loan portfolios since a watershed state law passed in 2019, but those plans may be accelerated.

Supposedly written to expand consumers' "freedom," the rule implementing open banking laws is actually central planning in disguise. It can't be allowed to supplant better, market-driven solutions.

Banking has long been overseen by independent agencies, though that independence has been waning for years. With the Supreme Court poised to weigh in, experts are questioning where — and whether — to redraw the line between politics and policy.

The Texas attorney general has accused WEX Bank of "debanking" a firearm supplier, but the Maine-based bank said it does not discriminate against any industry.

Regulators proposed a rule to replace the 2% enhanced supplementary leverage ratio with a capital charge equal to half of a bank's global systemically important bank surcharge. Low-risk assets will continue to count toward leverage requirements under the proposal.

As the Federal Reserve considers changes to the supplemental leverage ratio, Fed Board Chair Jerome Powell said that effort is one piece of a broader deregulation package that will also address the Basel III capital rules.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., sent a letter to banking regulators urging them to preserve the enhanced Supplemental Leverage Ratio, warning that a rollback would only enrich bank shareholders.

Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.

The Federal Reserve chair appears before the House Financial Services Committee for his first of two days of testimony on Capitol Hill this week, part of his biannual monetary policy report to Congress.

House Financial Services Committee Chair French Hill, R-Ark., declined to say whether he would pass the Senate's GENIUS Act without making his own changes, as President Trump has preferred.

Nissan Motor Acceptance Corp. has applied for an industrial loan company charter, joining General Motors and Ford in hoping for better prospects for approval under the Trump administration.

The Federal Reserve is the latest bank regulator to purge reputational considerations from its supervisory materials.

The Federal Reserve's vice chair for supervision said changes to the supplemental leverage ratio are needed to bolster the Treasury market and ensure banks are not incentivized to take on excessive risks.