The Federal Reserve Board should continue to focus on emerging systemic threats and work on exempting community banks from rules clearly aimed at larger institutions, said Fed Gov. Daniel Tarullo, who unexpectedly announced his pending departure Friday.
The rise in home values is good news for homeowners looking to tap the equity in their homes to pay down debt or make big purchases, but some consumer groups fear it could lead to a new wave of loan defaults.
The American Bankers Association filed a lawsuit Thursday against the Federal Reserve and the federal government in general over a provision in the 2015 transportation bill that diverted dividend payments to Fed member banks to the highway fund.
A House plan to provide regulatory relief will be more far-reaching when it is reintroduced soon by rendering the consumer protection agency toothless and providing banks with extra incentives to opt into a deregulatory plan.
Scott Alvarez, the Federal Reserve's long-time general counsel, will retire later this year after nearly three dozen years at the central bank, the agency announced Wednesday.
The Federal Reserve’s regular opinion survey of senior bank loan officers suggests that lenders expect to ease lending standards for commercial and industrial loans in 2017, while also expecting to have to tighten lending standards for commercial real estate and auto loans this year.
Easing regs without mulling the consequences could hurt the financial system, but a fintech charter and other careful reforms could promote innovation, Patrick Harker said.
A top House Republican is calling on the Federal Reserve to cease its participation in international standards-setting forums until after President Trump has installed his own leadership in the central bank.
Several groups are developing real-time payments systems for the U.S., and most everyone agrees success is inevitable, but how quickly they can make enough progress to satisfy consumers is a point of contention.
