In the new role, Kenneth Montgomery will lead the Fed’s efforts to reduce fraud risk and improve the security and resiliency of the U.S. payments system
The Federal Reserve Board on Thursday proposed to give banks more insight into portfolio performance under its stress testing models in an effort to help banks better understand the Fed’s methodology.
The Federal Reserve Bank of Richmond's decision to hire Thomas Barkin as its next president has renewed questions over the cloaked process of selecting officials who set the most widely watched policy interest rates in the world.
Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators.
Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.
Describing cybersecurity as the biggest risk facing the financial sector, Vice Chairman for Supervision Randal Quarles said regulators should more actively facilitate conversations between banks and national security agencies to boost digital security.
The nomination of Jelena McWilliams to chair the Federal Deposit Insurance Corp. moves the Trump administration one step closer to completing its team of regulatory appointments in its push to undo former President Obama's post-crisis policies.
