The Fed’s top regulator is reportedly gunning to run the international Financial Stability Board, but the president's trade wars and recent criticism of Europe are impeding that effort and weakening U.S. regulators' hand more generally.
The House appropriations bill would also expedite the appeals process for CFPB examination decisions and reduce the number of times big banks must submit resolution plans to every two years.
The Fed's top regulatory official suggested that some banks could get a break from filing resolution plans and see the frequency of their stress tests reduced.
The central bank has encountered criticism for allowing three banks to direct funds to dividends and buybacks even though their capital levels fell below required minimums.
The chairman of the Federal Reserve is testifying before Congress this week, where he will likely face tough questions about the agency’s decision to let two banks slide on their exams late last month.
The Senate Banking Committee's top Democrat singled out Morgan Stanley and Goldman Sachs, which he said "got passing grades" despite being unable to maintain minimum required capital levels.
