News Topic: Federal Reserve

Global regulators are preparing to tighten restrictions on companies believed to have threatened the financial system at the height of pandemic-fueled volatility. ... Read full article

Tennessee Sen. Lamar Alexander joined Mitt Romney of Utah and Susan Collins of Maine in disapproving of Judy Shelton's nomination to the Federal Reserve Board, adding drama to a confirmation vote that had been targeted for this week. ... Read full article

The group includes many advocates for stricter bank regulation from the Obama administration; the president-elect may have as many as three open seats on the central bank or as few as none. ... Read full article

Regulators were receptive to Republican lawmakers' calls to ease burdens on banks that cross new asset thresholds as a result of their participation in the Paycheck Protection Program. ... Read full article

“We’re going to be looking at … what caused us to not be able to close some of these gaps in the past,” Citigroup's new Chief Administrative Officer Karen Peetz says of the effort to fix shortcomings in internal controls that have plagued the company ... Read full article

Demand trends were mixed in the third quarter, with consumers showing more willingness than businesses to take on new debt, according to the Fed’s most recent survey on bank lending practices. ... Read full article

Temporary policy responses have mitigated problems in the short-term funding markets related to the pandemic, but permanent fixes may be necessary in some areas, the agency said in a report. ... Read full article

Opening a bank or investment account — or even securing employment in a racism-free workplace — is out of reach for many Black Americans. ... Read full article

With a Democrat set to take the White House in January, the agenda for agencies like the CFPB could undergo a rapid transformation, housing finance reform could be turned on its head and progressive banking ideas that were unthinkable over the past four ... Read full article

With a Democrat set to take the White House in January, the political balance at NCUA could shift amid changes for the CFPB and housing reform, and progressive banking ideas that were unthinkable over the past four years could gain traction. ... Read full article

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them. ... Read full article

Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.” ... Read full article

A Federal Reserve-issued digital dollar could speed up payments, expand financial access and reduce financial crime. But it also brings trade-offs that policymakers are only just beginning to consider. ... Read full article

The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says. ... Read full article

Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000. ... Read full article

The proposed regulation would codify a 2018 pronouncement by regulators that guidance does not carry the force of law. ... Read full article

The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken. ... Read full article

The agency's May rule modernizing the Community Reinvestment Act had deferred action on establishing numeric metrics for meeting the law's requirements, but acting Comptroller of the Currency Brian Brooks said banks will soon get more clarity in ... Read full article