Democrats' recent electoral victories signal that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other bank priorities.
During his time as Fed governor, chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.
Discussions on a regulatory relief package between the top Democrat and Republican on the Senate Banking Committee broke down late Tuesday, but members from both parties remain hopeful they can reach a bipartisan deal.
If President Trump picks Federal Reserve Board Gov. Jerome Powell as its next chair, it may represent the best of all worlds for bankers — a policymaker who will continue the central bank's monetary policy but be open to regulatory changes.
Top executives at nineteen regional banks sent a letter to the Senate Banking Committee endorsing a bill that would change the systemically important financial institution threshold from $50 billion in assets to an indicator test.
Senate lawmakers will soon introduce a bill that could more than quadruple the current $50 billion threshold to be considered a systemically important bank, National Economic Council Director Gary Cohn said Monday.