Fed Vice Chair-nominee Randal Quarles will likely face questions about his support for small banks, while Comptroller-nominee Joseph Otting must face fallout from his predecessor.
For the last two years, the central bank has allowed the private sector to drive a process aimed at modernizing the nation's payments system. Now the Fed will have to determine what its own role will be.
A regulatory plan to create new restrictions on banks’ executive compensation practices appears dead – but changes since the financial crisis may have made the proposal largely obsolete anyway.
Now that the Federal Reserve has raised short-term rates four times in the past 18 months, all eyes are on deposit costs as banks seek to keep pricing low and fatten margins. But that effort is complicated by the fact that banks must prepare for the unwinding of the Fed's balance sheet and consumers' rapid adoption of mobile deposits.
An influential task force established by the central bank envisions a future in which the U.S. has multiple real-time payment systems, and in a new report it lays out a series of actions that will be necessary to stitch them together.
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.
House Republicans are ramping up their criticism of the Fed for making interest payments to member banks on excess reserves, and may have identified a way to counter claims that the payments are critical to monetary policy.
Readers slam credit unions’ ever-inclusive membership criteria, weigh in on the OCC’s proposed fintech charter, encourage a rewrite of the CRA, and more.
