Fed wants banks to say what they’re doing to promote diversity


Even though financial institutions have "slightly" stepped up assessments of diversity practices, "we are not satisfied with the level of responsiveness,” a senior Federal Reserve official said in congressional testimony.


Banking super PAC moves closer to announcing Senate endorsements


Friends of Traditional Banking is focusing on four GOP senators in tight races as it prepares to endorse two incumbents for the November elections.


Are public-private partnerships the future of postal banking?


Bankers have long opposed the idea of the U.S. Postal Service taking deposits and making loans directly, but some in the industry are open to the idea of letting banks and credit unions offer services at post offices.


Brokered deposit law is woefully outdated


As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.


Waters rejects GOP request to cancel hearing on pandemic relief bill


The House Financial Services Committee chair vowed to stay focused on the HEROES Act after the panel's top Republican said lawmakers should instead debate bills with bipartisan support.


Fed policies ‘absolutely’ don’t add to inequality, Powell says


Chairman Jerome Powell said the Federal Reserve's actions during the coronavirus outbreak have been aimed squarely at helping U.S. workers, not Wall Street or wealthier Americans. He also said Friday that a new lending program geared toward middle-market firms is "days away" from getting up and running.


Fed can do only so much to limit pandemic's economic hit: Powell


The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.


Agencies urged to pause CRA reform as banks manage pandemic response


The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul.


Will Congress's coronavirus response watchdog have any teeth?


Financial institutions could testify before the bipartisan commission overseeing the unprecedented economic aid for industries hit by the COVID-19 pandemic. But without subpoena authority, the panel’s impact may be limited.


Coalition urges Congress to protect stimulus checks from garnishment


In a rare show of unity, banking industry and consumer advocacy groups told congressional leaders that it is not too late to ensure individuals can access all of their coronavirus relief funds promised by the government.