News Topic: Federal Reserve

The benefits include improved financial inclusion, the chairman of the NCUA argues. ... Read full article

Federal Reserve Chair Jerome Powell said he was “comfortable” with a recent speech by Gov. Lael Brainard objecting to significant aspects of the Community Reinvestment Act plan proposed by the OCC and FDIC. ... Read full article

The country’s banks plan to raise overdraft rates to 40%, which has regulator watching; starting this year pay increases won’t be retroactive to Jan. 1. ... Read full article

Comptroller of the Currency Joseph Otting upset some House Democrats when he was a no-show at a previous oversight hearing. They will now get a chance to question him about the future of the Community Reinvestment Act. ... Read full article

Regulators already finalized a rollback of the proprietary trading ban section of the rule but signaled then that their overhaul was not finished. ... Read full article

The comptroller of the currency stood firm in defense of his agency's proposal, saying skeptics of various parts of the draft framework do not have their facts straight. ... Read full article

The Massachusetts senator and presidential contender sent a letter to eight of the biggest U.S. banks asking about how they assess climate-related risks to assets and how they plan to mitigate social and economic fallout. ... Read full article

The body will include the Bank of England, Bank of Canada, the Bank of Japan and the European Central Bank, but not the Federal Reserve or the People's Bank of China. ... Read full article

The central bank is aiming to finish a rule creating a streamlined capital buffer ahead of the upcoming round of stress testing, but industry experts say that timeline may be too ambitious. ... Read full article

The central bank’s top regulatory official laid out a comprehensive set of proposals to update how the agency supervises banks — particularly large institutions — with an eye toward improving transparency. ... Read full article

The president tapped the pair in July for the two remaining vacancies, but the formal announcement of his intention to nominate them didn’t come until this week. ... Read full article

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal. ... Read full article

As the regulatory agencies have struggled to reach a consensus, a proposal championed by Office of the Comptroller of the Currency has divided lawmakers and been assailed by community groups. ... Read full article

Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts. ... Read full article

More than two years after efforts began to modernize enforcement of the Community Reinvestment Act, regulators appear far apart on how to proceed. ... Read full article

Though she stopped short of mentioning the FDIC and OCC by name, Fed Gov. Lael Brainard objected to several key elements of those agencies' proposal. ... Read full article

The prospects of a potential Democratic sweep of the 2020 elections could spur regulators to quickly finalize changes to the Community Reinvestment Act. ... Read full article

After declining to support the proposal drafted by the OCC and FDIC, the Federal Reserve could issue its own framework or just keep the current CRA regime. ... Read full article