News Topic: Policymaking

Eleven senators sent a letter to Attorney General Jeff Sessions asking him not to enforce federal pot laws in states that have legalized marijuana. ... Read full article

Lawmakers from both sides of the political aisle voiced their support Wednesday for keeping credit unions' federal tax exemption intact even as the Trump administration and Congress prepare to make sweeping changes to the tax code. ... Read full article

Billionaire investor Warren Buffett said Wells Fargo made "a huge mistake" in the way it handled the phony-accounts scandal, and he laid the blame more forcefully than ever on former Wells CEO John Stumpf. ... Read full article

President Trump signed an executive order Friday requiring every agency to establish a task force focused on eliminating unnecessary regulations. ... Read full article

Donald Trump is considering nominating U.S. Bancorp Chief Executive Officer Richard Davis for the Federal Reserve Board, said people familiar with the matter, as the president prepares to start reshaping the central bank’s approach to monetary policy and ... Read full article

The Consumer Financial Protection Bureau's arbitration rule will likely be overturned by Congress if the agency moves ahead with finalizing it. ... Read full article

Any amendments to the current regulatory framework must preserve banking regulation and supervision’s vital role in the proper functioning of our economy. ... Read full article

The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, an alum of the OCC and GE Capital. ... Read full article

A federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout. ... Read full article

Banks have long been eager to see regulators knocked down a peg in the courts, but now that it might actually happen under President Trump, some are beginning to wonder if it might ultimately boomerang against the financial services industry. ... Read full article

Activists are pressuring banks involved in financing the controversial Dakota Access pipeline to abandon the project by threatening to withdraw their money and sever business ties. Can that tactic change how banks approach lending – and what does it mean ... Read full article

Banks are woefully unprepared to face potential cybersecurity threats stemming from third-party technology providers, according to a report issued Wednesday by the Federal Deposit Insurance Corp.’s independent watchdog. ... Read full article

Linda McMahon, who married into one of wrestling’s founding families and helped build the WWE into the largest professional wrestling company in the world, was confirmed Tuesday as the head of the Small Business Administration. ... Read full article

Rather than just avoiding costly rules, cost-benefit analyses can also validate worthy ones. That is the case with proposals to toughen the leverage ratio. ... Read full article

Regional banks don’t pose risks to the financial system that have caused concern among policymakers, executives of 18 banks told top Republican and Democratic lawmakers in Congress. ... Read full article

Financial firms are going on offense in Washington, pressing a policy agenda that would have been unimaginable just a few months ago. Some proposals, like reforming the Consumer Financial Protection Bureau, have been floated before while others began to ... Read full article

Republican lawmakers and Trump administration officials oppose the Consumer Financial Protection Bureau, but efforts to beat back CFPB policies might be a longer fight than many in the industry would like. ... Read full article

The settlement resolves a bitter, pre-crisis court fight in which Hank Greenberg squared off against three successive New York attorneys general over 11 years. ... Read full article