Christopher Waller is a conventional choice drawn from within the Fed’s own ranks. Judy Shelton has spent decades outside mainstream economics. But both are expected to echo the president’s call for lowering interest rates. ... Read full article
New York Attorney General Letitia James said there is “no basis to believe” that the overdraft rule has harmed small banks and credits unions. ... Read full article
Lending to companies with heavy debt loads is a growing business — one that many fear could lead to the next financial crisis. ... Read full article
Several large asset managers plan to meet directly with corporate clients to make loans; 10x Future Technologies promises faster and cheaper banking services. ... Read full article
After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better. ... Read full article
The president said that European Central Bank President Mario Draghi would do a better job overseeing monetary policy in the U.S. than Fed Chairman Jerome Powell. ... Read full article
Some signed on because the deal didn't require using or promoting Libra; Chicago bank may get stuck with $190 million of losses from U.K. mutual fund. ... Read full article
Intern programs are just one example of an activity that should count for CRA credit and meet Dodd-Frank requirements, says Comptroller of the Currency Joseph Otting. ... Read full article
A new set of tougher scenarios did little to keep large banks from passing the most recent stress tests mandated by the Dodd-Frank Act. ... Read full article
President Trump has told confidants as recently as Wednesday that he believes he has the authority to replace Jerome Powell as chairman of the Federal Reserve Board, according to people familiar with the matter. ... Read full article
Federal Reserve Chairman Jerome Powell says the agency is closely monitoring leveraged lending risks, but suggests further regulations on banks aren’t warranted. ... Read full article
The White House general counsel’s office weighed the legal implications of stripping Powell of his chairmanship and leaving him as a Fed governor, the people said, in what would be an unprecedented move. ... Read full article
The new regulation mandated by Congress expands eligibility for a simplified reporting form to financial institutions with $5 billion of assets. ... Read full article
Public-sector development of a speedier settlement service, to operate alongside the one being developed by The Clearing House, is crucial for seeing that institutions of all sizes are able to take advantage of this technology. ... Read full article
Dozens of companies, including Google and PayPal, met with OCC officials last year in part to discuss obtaining a new fintech charter, but many ultimately decided not to pursue it, according to sources. Here's why. ... Read full article
President Trump sharply criticized Jerome Powell in an interview aired Friday, blaming the Federal Reserve chairman for raising interest rates. ... Read full article
The central bank gathered feedback in nearly 30 roundtable discussions about regulators' efforts to modernize the 1977 law. ... Read full article
Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers. ... Read full article
The head of the Federal Deposit Insurance Corp. previously had said regulators were weighing numerous options for addressing criticism of their 2018 proposal. ... Read full article
Options include legislation to study the risk of leveraged loans, more aggressive action by the Financial Stability Oversight Council and additional capital buffers. Policymakers may also choose to do nothing. ... Read full article
