Credit unions historically have focused on laws that directly pertain to them, but in a break with that tradition, NAFCU is calling on Congress to re-introduce efforts to break up big banks.
Early polling shows that the Massachusetts senator is a strong contender for the White House, setting her up to shape the debate on financial services even if she doesn’t run.
More than 50 amendments had been filed by Wednesday afternoon to be considered as part of a Senate regulatory relief bill, but it was unclear which proposed changes if any have the approval of the legislation's key sponsors.
Acting Comptroller of the Currency Keith Noreika called for reopening the debate over the barrier between banking and commerce, saying there is evidence removing it could benefit small banks.
Acting Comptroller of the Currency Keith Noreika is using his short time in office to open a debate about the separation of banking and commerce, which he says is anti-competitive, stifles diversification and may limit regulators' options in times of crisis.
Sen. John Kennedy, R-La., said he wants policymakers to flesh out a potential return of the Glass-Steagall Act, but wasn't sure if it should separate commercial and investment banking.
The Treasury secretary says the Trump administration doesn't support separating commercial from investment banking; wealthy neighborhoods are designated as low-income, benefitting banks with branches there.
Treasury Secretary Steven Mnuchin was pressed for his views on housing finance reform, what a “modernized” version of the Glass-Steagall Act would look like and a two-tiered regulatory system.
Consumer debt breaks the previous mark set back in 2008, but some are worried that people are returning to their profligate ways; Wells Fargo makes greater use of consumer surveys to fix its brand.
Treasury Secretary Steven Mnuchin is expected to face tough questions on the OCC, Glass-Steagall and housing finance reform when he testifies on Thursday.
