CFPB director gives political speech but avoids saying if he will run for governor in Ohio; Treasury is looking into getting rid of the "too big to fail" label.
Financial institutions increasingly depend on large tech companies such as Google and Apple for infrastructure, said the group that runs the World Economic Forum, stopping well short of recommending regulatory changes.
Regional banks are hoping that recent comments by Fed Chair Janet Yellen can add fuel to their efforts to replace the $50 billion asset threshold for systemically important banks with a regulatory indicator test.
Senate Banking Committee Chairman Mike Crapo sounded optimistic Thursday about reaching a bipartisan deal for regulatory relief, but a hearing once again emphasized the gulf between what lawmakers are likely to pass and what the industry is seeking.
One of the greatest factors hindering a full recovery following the 2008 crisis is improperly calibrated regulation, particularly of regional banking institutions.
Without powers granted by the Dodd-Frank Act to unwind failing financial firms, a central and known problem that contributed to our last financial crisis would become a core problem of our next one.
The Financial Stability Oversight Council discussed its designation of certain nonbanks as systemically important and the "efficacy" of the Volcker Rule at a closed-door meeting on Monday.
