News Topic: Federal Reserve

Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to the Federal Reserve Board. ... Read full article

Three nominees for financial regulatory posts, including the administration's choice to run the FDIC, will face questions by the Senate Banking Committee. ... Read full article

Federal Reserve Vice Chairman for Supervision Randal Quarles on Friday gave the clearest indication yet of the central bank's intention to recalibrate the regulatory framework for the nation’s largest banks. ... Read full article

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision. ... Read full article

Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year. ... Read full article

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency. ... Read full article

The Federal Reserve’s beige book survey indicates the economy is expanding as household loan demand declines. ... Read full article

The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation. ... Read full article

The Senate Banking Committee is expected to consider the nominations of Jelena McWilliams to be FDIC chair and Marvin Goodfriend as a governor of the Federal Reserve Board. ... Read full article

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis. ... Read full article

The bank says it received an “outstanding” rating on its most recent Community Reinvestment Act examination. Its previous rating, a “needs to improve,” not only was bad publicity but restricted its ability to buy banks. ... Read full article

Minneapolis Fed President Neel Kashkari acknowledges that his plan to raise capital at the biggest banks and ease burden for smaller ones isn't likely to be enacted soon, but says its time will come. ... Read full article

The Fed said Wednesday that the system paid roughly $80.2 billion to the Treasury in 2017, a 13% drop from a year earlier because of an increase in interest payments to member banks for reserve balances. ... Read full article

The central bank is beginning to consider the possibility of a “digital dollar,” which will foster more efficient and transparent payments. ... Read full article

The final plan to end "too big to fail" suggests that banks with less than $10 billion be subject to a much less complicated risk-based capital regime, akin to what was required in Basel I. ... Read full article

Pimco's Richard Clarida is said to be out of the running for the nomination. Other names linked to the position have been former Fed Gov. Lawrence Lindsey and Mohamed El-Erian, chief economic adviser at Allianz SE, Pimco’s parent company. ... Read full article

Northern Trust, which along with 16 other organizations had the public portion of its resolution plan released, said it made changes to its living will as a result of criticism by regulators. ... Read full article

The milestone marks the end of a seven-year-long recovery in the credit card market that followed the Great Recession. ... Read full article