Politics

The Senate confirmed Travis Hill as the chairman of the Federal Deposit Insurance Corp. as part of a slate of nominations that were approved late Thursday. Hill has been serving as acting FDIC chair since January.

Moving cannabis from a Schedule I to a Schedule III drug would not legalize cannabis or remove all barriers to cannabis banking, but it would allow operators to write off expenses, increase cannabis customer cash flow and eligibility for favorable loans.

The Federal Reserve said in a statement that its "understanding of innovation products and services have evolved" since the initial guidance was published in 2023.

The Bureau of Labor Statistics Thursday indicated that the Core Consumer Price Index indicated that inflation rose by only 2.7% in November versus a year ago, a pace that is the slowest rate of price increases since 2021.

The House Financial Services Committee unanimously passed bills that would give the Federal Deposit Insurance Corp. more options in resolving failed banks, including by waiving the "least-cost resolution" requirement in some circumstances.

The Financial Services Forum, which represents the largest U.S. banks, formed a new 501(c)(4) advocacy group to amplify big banks' policy preferences, a move that could counter the crypto industry's growing political influence.

New research from American Banker explores how bankers predict stablecoins, subprime credit, cyber security and other factors will shape the industry at large.

Federal Reserve Gov. Christopher Waller said monetary policy must remain insulated from political pressure, arguing that communication with the White House should be limited. Waller is slated to meet with President Trump Wednesday afternoon.

Bank groups, crypto firms and regulators are divided over whether fiduciary digital-asset custody fits naturally within the national trust charter model — or whether, as critics argue, the agency is quietly reinventing the charter.

The Federal Deposit Insurance Corp. issued a proposal setting application criteria for banks to issue stablecoins and sets a strict timeline under which banks may have their applications reviewed. The agency also reduced deposit insurance assessments for banks and slashed its 2026 proposed budget at a board meeting Tuesday morning.

The Bureau of Labor Statistics Tuesday reported that the economy added 64,000 jobs in November after posting a loss of 105,000 jobs in October, which was largely attributable to the onset of the government's deferred resignation program. Unemployment also ticked up to 4.6% from 4.4% in November.

These are the executives, regulators, investors, disruptors and firebrands who will have the biggest impact on bankers in the coming year.

A new report from the Basel, Switzerland-based Financial Stability Board found that nonbank financial institutions grew considerably faster than banks in 2024 and now control more than half of the world's financial assets.

Federal Reserve Gov. Stephen Miran said higher goods prices could be the trade-off for bolstering national security and addressing geo-economic risks.

The Office of the Comptroller of the Currency Friday approved national trust charter applications for five crypto firms, affirming the administration's push to allow crypto companies the ability to take deposits. 

Leading Democrats on the Senate Banking Committee sent a letter to Chair Tim Scott, R-S.C., pointing out the as-yet unsatisfied legal requirement for prudential regulators to appear in Congress semiannually.

Treasury Secretary Bessent said FSOC is readjusting its approach to avoid stifling growth in moves with implications for capital, technology and mortgages.

The Federal Reserve Board of Governors voted Wednesday to reappoint 11 sitting regional Fed presidents, without any dissents. The move precludes any effort the White House might have made to pressure the board to deny reappointments.

The Brazilian fintech is on the hunt for an acquisition since new rules approved in November forbid the use of "bank" in a brand unless the company holds a banking license, which Nubank does not.

The House Financial Services Committee discussed allowing banks to experiment with artificial intelligence with a waiver from regulatory penalties, including consumer protection laws, in a hearing.