Policymaking

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

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.

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.

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.

In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount.