Politics

In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.

The Consumer Financial Protection Bureau issued an interpretive rule and a separate request for information aimed at Big Tech companies, digital payments and crypto assets.

The Labor Department estimates the economy added 256,000 jobs in December, indicating a resilient economy and labor market. For the Federal Reserve, which was already signaling a slowdown in rate cuts, the reading could justify holding rates steady.

Seen by many as a logical pick for the Federal Reserve's next vice chair for supervision, Gov. Michelle Bowman wants the institution to focus on safety and soundness issues, tailoring and transparency.

Rep. Bill Huizenga, R-Mich., will take the No. 2 spot on the House Financial Services Committee, while Reps. Bryan Steil of Wisconsin, Dan Meuser of Pennsylvania and Mike Flood of Nebraska are elevated to subcommittee leadership.

While most of the Biden administration's prudential banking regulations can't be overturned under the Congressional Review Act, late-breaking rules by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency's M&A rules could be overturned.

The Consumer Financial Protection Bureau said it would undertake a rule to regulate large participants in the personal loan market and consider a joint rulemaking with the Federal Reserve on check and ATM hold times.

Several crypto-friendly voices join the Senate Banking Committee from Nebraska and Ohio, while Democrats leave a banking policy expert off the House Financial Services Committee.

In a Wednesday morning speech, the Federal Reserve Gov. Christopher Waller said President-elect Donald Trump's nascent trade policy will likely lead to a one-time jump in prices rather than broader inflationary pressure. He also said he expects further interest rate cuts in 2025.

Experian said it has gone "above and beyond the law" to investigate consumer disputes related to the accuracy of information.

Michael Barr's surprise announcement that he will step down as the Federal Reserve's chief regulator could ultimately mean little for the central bank's approach to regulation under the incoming Trump administration.

The banking giant's exit from the global Net-Zero Banking Alliance leaves just three smaller U.S. banks in the group. Climate activists called large banks' departures a capitulation to Republicans' climate denialism.

Barr gave up his prestigious position as the Federal Reserve vice chair for supervision. In keeping his seat on the Board of Governors, he may have strengthened his hand in shaping banking regulation.

Acting Comptroller of the Currency Michael Hsu reflects on his tenure, the challenges of financial regulation, and the delicate balance of fostering innovation while maintaining trust in the financial system.

The Consumer Financial Protection Bureau finalized a rule that will remove medical  bills from credit reports to end what the bureau called "coercive debt collection practices."

In his letter of resignation, Federal Reserve Vice Chair for Supervision Michael Barr said an attempt by the Trump White House to remove him could create a "distraction" for the Fed. He plans to retain his seat on the Board of Governors, which expires in 2032.

In the year ahead, financial services regulatory agencies should take the opportunity to pull back from ideology-driven supervisory decisions and embrace a fact-based approach that will boost the U.S. economy.

The Consumer Financial Protection Bureau's last-minute actions are expected to annoy the incoming Trump administration, which will seek to undo them, putting protections in jeopardy.

The Federal Reserve Bank of Richmond president said while he believes the central bank's current level of rates is restraining the economy enough to continue lowering inflation in 2025, there are still upside risks to inflation and growth.

In their new book, "The New World Economy in 5 Trends," Koen De Leus and Philippe Gijsels predict a future in which neutral interest rates are higher, technology is transformative and the urgency of climate-change adaptation creates investment opportunities.