News Topic: Policymaking

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability. ... Read full article

The California Democrat is less recognizable nationally than other progressives elected to the House in 2018. But she may be "the most feared freshman" on the Financial Services Committee. ... Read full article

The social media giant's CEO will likely encounter pushback from members of the Financial Services Committee about the company's plans to launch its own cryptocurrency. ... Read full article

The Federal Housing Administration chief has already been serving as the acting deputy secretary of the Department of Housing and Urban Development. ... Read full article

A new law authorizes municipalities in the nation’s largest state to charter their own financial institutions to reinvest public funds into the community. ... Read full article

Simone Grimes had alleged former FHFA Director Mel Watt made inappropriate advances toward her and she was paid less than the man who had previously held her position. ... Read full article

One Republican lawmaker went so far as to suggest that Congress should try to block the central bank's effort, but Democrats said FedNow will promote competition in real-time payments. ... Read full article

The lawmakers, including Sens. Sherrod Brown and Elizabeth Warren, sent the bank a letter focusing on customers' difficulty enrolling in credit monitoring and identity protection services. ... Read full article

The Democratic presidential candidate said on Twitter that credit cards "have enabled many of America’s mass shootings." ... Read full article

The event is the bureau's second in a series on consumer protection policy. The first dealt with the agency's authority to penalize firms for unfair, deceptive or abusive acts and practices. ... Read full article

Higher net interest income and securities gains boosted quarterly profit to $62.6 billion, which was 4% higher from a year earlier. But potential trouble signs from lower interest rates may emerge. ... Read full article

The Trump administration is not backing down even after a federal court blocked guidance that would have limited the operations of national housing funds. ... Read full article

Community banks and tech companies that are happy the central bank is building a next-generation system are not as pleased with its four- to five-year timeline. But big banks see the slow rollout as an opportunity to expand their own instant payment ... Read full article

Sen. Thom Tillis of North Carolina called for the panel to hold a hearing on what he termed the danger that the Federal Reserve will meddle in the 2020 presidential election. ... Read full article

Sheila Bair, who holds board seats at several other organizations, will sit on Fannie's compensation, corporate governance and risk policy committees. ... Read full article

After a news report said the bank kept alive accounts customers thought they had closed, Sen. Elizabeth Warren told acting CEO Allen Parker in a letter that Wells is "still fundamentally broken." ... Read full article

The Department of Housing and Urban Development will remove some barriers to government-insured condominium lending next month, including a post-crisis measure housing industry groups have long pressed for a change to. ... Read full article

With women and minorities holding less than 25% of top positions at the eight largest U.S. banks, House Financial Services Committee Chairwoman Maxine Waters and other Democrats called on banks to improve their recruiting efforts and invest in programs ... Read full article