Randal Quarles

Powell unsure on future CRA path if Fed parts with other agencies


The Fed chairman said he has not given up on the central bank agreeing with other regulatory agencies on a plan to modernize the Community Reinvestment Act, but admitted, "I don’t know whether that will be possible or not.”


Democrats seek assurance regulators won't weaken CRA


A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit.


House Democrats implore regulators to get in sync on CRA


Lawmakers blasted an apparent decision by the OCC and FDIC to move forward with a proposal to reform the Community Reinvestment Act without the support of the Fed.


Regulators give wary nod to use of alternative data in underwriting


Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said.


FedNow is necessary, Fed digital currency is not: Mester


The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.


Regulators’ push for innovation shouldn’t come at expense of prudence


It's time to establish a fintech commission.


Regional banks sound alarm over new interest rate benchmark


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.


Fed finishes overhaul of post-crisis supervisory regime


The central bank finalized a host of regulatory-relief changes mostly benefiting midsize and regional banks that hew closely to proposals issued in April and last fall.


Refining supervision is as vital as tweaking post-crisis rules: Quarles


The Fed’s top regulatory official said how agencies adjust their supervisory approach may prove just as important as their rulemaking efforts.


Fed proposes capital requirements for insurance units


The Fed is seeking feedback on a "Building Block Approach" to risk-based capital standards for firms heavily engaged in insurance activities.