House forgiveness plan for Paycheck Protection Program loans is better than nothing, bankers say; why some banks still lean on mainframes; what's next for Goldman Sachs's Marcus; and more from this week's most-read stories.
During a Senate Banking Committee hearing, the Massachusetts Democrat asked Powell what the Fed is doing to reduce inequality along economic lines in the U.S.
Democratic presidential nominee Joe Biden’s search for a Treasury secretary is widely seen as focusing on Brainard, a choice that would keep both Wall Street and progressives in line.
The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.
The Baltimore institution said it would close on Nov. 3 with the intention that employees use the paid time off to participate in the democratic process.
Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans retaining control of the chamber would be defending against the disruption of a Democratic blue wave.
