Politics

The New York Department of Financial Services has proposed several changes to overdraft fees including banning banks from charging more than three overdraft or nonsufficient funds fees per consumer per day.

China currently dominates the market for the hardware and software used to mine cryptocurrency. Creating a large federal reserve would expose a major U.S. asset to potential Chinese meddling.

Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.

Trump's pick for treasury secretary commits to a thorough and careful recapitalization and release process for Fannie Mae and Freddie Mac.

President Trump reinstated a revised executive order from his first term that would make it easier for the White House to remove policy-facing federal employees — including Senior Executive Service employees. The National Treasury Employees Union sued the White House in response.

The Federal Deposit Insurance Corp. Tuesday officially withdrew from an international regulatory body devoted to combatting climate-driven financial risks, following similar actions by other U.S. bank regulators. 

The Federal Deposit Insurance Corp.'s newly installed Acting Chairman Travis Hill issued a statement laying out his priorities for the agency, including reviewing and repealing Biden-era bank regulations, a softer approach to fintech and crypto and addressing so-called debanking.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.

Federal Deposit Insurance Corp. Vice Chair Travis Hill has assumed the duties of FDIC chair, National Credit Union Administration Vice Chair Kyle Hauptman took over as NCUA chair and Securities and Exchange Commission member Mark Uyeda will serve as acting chair of the SEC.

A one-page outline of priorities for Trump's inauguration day obtained American Banker includes financial policy items, including firing Consumer Financial Protection Bureau Director Rohit Chopra, issuing a "reset" of that agency and designating crypto as a "national priority."

Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.

The lawsuit alleges mismanagement and fiduciary breaches caused SVB's 2023 collapse, costing the Deposit Insurance Fund $23 billion.

President Trump has promised to reduce banking regulations, a form of indirect tax or "bank tariff," that will help the banking industry. But, he also plans to impose new tariffs on imports that may adversely impact agricultural and manufacturing industries and thus their banks.

The incoming administration will have a number of tools at its disposal to immediately pare back stifling federal regulation of financial services and boost the housing market. It should use them.

The Consumer Financial Protection Bureau rescinded a proposed rule on nonsufficient funds fees and a 2020 advisory opinion on earned wage access products.

Scott Bessent, Donald Trump's pick to serve as Treasury Secretary, handled a policy-heavy confirmation hearing with poise, highlighting his preference for relaxed bank regulation, support of the 2017 Trump tax cuts and a hawkish approach to spending.

The nominee to lead Federal Housing Finance is head of Pulte Capital Partners, which invests in homebuilding related businesses.

With the Federal Reserve touting a slower pace of easing, markets are expecting a longer pause. But Gov. Christopher Waller said the next interest rate reduction could come as soon as March because of inflation data.

The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.