The Fed board unveiled a proposal Tuesday to standardize how investors owning less than one-quarter of a bank can determine who holds a "controlling" stake and therefore must register as a bank holding company.
Following the Federal Reserve Board, the FDIC signed off on proposed measures to ease resolution planning requirements and tailor supervisory standards for foreign banking companies operating in the U.S.
The administration’s move seems aimed at cutting down on regulation. But broader reviews by the White House under the Congressional Review Act could hinder rules the industry supports.
A key question is whether the agency will restrict the ability of firms to track down delinquent borrowers with emails and text messages, which weren't in use when current regulations were adopted.
The Trump administration directed independent agencies to submit their pending regulations for review by the Office of Information and Regulatory Affairs, a novel procedural hurdle that could slow down policy changes.
Regulators and lawmakers go to great lengths to avoid using the term for reforms in the Trump era, but its meaning is consistent with recent steps to revise and clarify the post-crisis regime.
The Federal Reserve Board unveiled a host of proposed changes to tailor U.S. supervision of foreign firms, as well as a proposal easing “living will” requirements for both domestic and overseas banks.
A broad bill that amends the Controlled Substances Act to formally recognize state laws legalizing marijuana has the support of the financial services industry.
Sen. Sherrod Brown, the Senate Banking Committee's top Democrat, said the banks failed to provide enough information on how their proposed combination would affect employees and consumers.
Nearly a dozen Republicans joined all of the committee's Democrats in supporting the legislation, which would enable banks to serve legal marijuana businesses.
