One of the architects of Britain's financial regulation has called for higher capital charges on banks as a "quid pro quo" if the government decides to strengthen deposit guarantees in the wake of Silicon Valley Bank's collapse.

A 40-year-old limit of just 14 nondepository 7(a) lenders is set to expire May 12 despite concerns by lawmakers and opposition from banks and credit unions.

The approval follows a deal brokered by the Swiss government last month for UBS to acquire its distressed rival.

Federal Reserve Board Gov. Michelle Bowman said current capital requirements and application processes are driving consolidation and boosting shadow banking. 

Federal Reserve Board Gov. Christopher Waller endorsed the idea that more bank runs would have occurred had regulators not intervened.

The nascent proposal would reportedly suspend the debt ceiling until May 2024, a move that would put the issue at the center of the presidential campaign.

Billions were lost to fraud during PPP. Now, prosecutors are increasing efforts to recoup taxpayer money, leaving lenders worried they could be put under the microscope next.

Treasury Secretary Janet Yellen continued to hold her administration's stance of steadfast support for Ukraine, but the secretary indicated responsible stewardship of U.S. aid and enduring cooperation from western allies would be essential to continuing robust support.

Consumer Financial Protection Bureau director Rohit Chopra said the systemically important financial institution designation should be considered for platforms such as PayPal, Venmo and Cash App.

Travis Hill, the Republican vice chair of the Federal Deposit Insurance Corp., said poor interest rate risk management caused last month's bank failures and denounced calls to reinstate tighter supervisory standards on midsized regional banks.

Despite growing concerns about fraud, bankers and credit union lenders say PPP provided a crucial source of capital, backstopping the economy as it faced an unprecedented challenge from the pandemic.

Banks could be in for a long, slow trickle of bank failures and consolidation in the coming months and years, particularly if inflation persists and interest rates keep rising. A downturn in commercial real estate could add to banks' problems.

In wide-ranging remarks on the recent banking crisis, the head of the Consumer Financial Protection Bureau said other regulators aren't using enough of their powers to supervise banks.

The state's attorney general filed a motion to intervene in the bank's lawsuit over master account access, citing concerns about the effect of the Federal Reserve's decisions on Wyoming's special-purpose depository institution charter.

A former comptroller of the currency worries that, in the current frenzy to right crypto's wrongs, Washington will go too far and inadvertently undercut the U.S. banking system.

This congressionally mandated mission plays a critical role in funding important projects in communities across the country.

Carrie Tolstedt, the former Wells Fargo executive facing criminal charges for the phony accounts scandal, entered a "not guilty" plea at an arraignment hearing Friday afternoon.

The agency said it will include home valuation practices in its fair lending review. It's the latest effort by a Washington regulator to root out discriminatory practices in the profession.

The report issued Thursday comes as the U.S. and other countries are grappling with how they should regulate cryptocurrencies and virtual assets.

Recent deposit flows raise questions about the Fed's support for these funds through its overnight lending facility, and whether that support is doing more harm than good.