Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.
Comerica, Regions and KeyCorp executives say their companies will proceed with caution despite the green light from the Federal Reserve to buy back stock in case they have to cover a surge in loan growth as the economy recovers.
The comments by Federal Deposit Insurance Corp. Chair Jelena McWilliams published in Politico reinforce optimism that the banking agencies could settle years of disagreement about modernizing the Community Reinvestment Act.
Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.
The industry wants regulators to extend a temporary measure making it easier to satisfy the supplementary leverage ratio. But Democrats’ control of the White House and Congress has given a bigger platform to those who say banks have had enough relief.
The bank must submit a plan for improving its risk management and decreasing its commercial real estate exposure, the Federal Reserve said in an enforcement order.
As the Federal Reserve continues to explore issuing a digital U.S. dollar, the Biden administration and key congressional leaders are endorsing the idea as a way to expand banking access for underserved consumers.
The U.S. economy expanded modestly in the first two months of the year and sentiment among business owners is picking up as vaccinations bolstered the prospects for economic growth, the Federal Reserve said.
Julie Stackhouse retired last year as an executive vice president at the St. Louis Fed, where she supervised bank holding companies and state member banks in the region.
Sens. Elizabeth Warren and Sherrod Brown urged regulators not to give in to industry requests to extend a temporary policy easing compliance with the supplementary leverage ratio.
