Several Senate, House and gubernatorial battles are of interest to financial firms. Here is a spotlight on specific contests, with updates as they become available.
The federal agencies said in a recent statement that “guidance does not have the force and effect of law,” but two trade groups say that standard should be more binding.
The Federal Reserve Board plan to revise its post-crisis framework promises reduced compliance costs and other benefits. But some analysts see the removal of guardrails as increasing failure risk, which may spook investors.
The battle gaining the most attention Tuesday night will be which party controls the House next year. But other key races will help determine the makeup of the Senate Banking Committee.
Regional banks were the ultimate winners in the Federal Reserve’s proposal to tailor supervision, but rules for the biggest banks remained largely unchanged.
The next downturn will come sooner rather than later, so bankers should press policymakers for several core improvements to the financial system before attitudes in Washington change.
In a highly anticipated proposal, the central bank outlined a new approach for its post-crisis supervisory program that divides banks into different tiers based on size.
Payday lenders scored a victory when the bureau committed to proposing changes next year, but they expressed disappointment that the revamp will not address a key payment-processing provision.
The Federal Reserve Board’s meeting to discuss supervisory standards for midsize institutions will be closely watched by regulatory relief advocates and those who want the Fed to maintain its firm hand.
Wells Fargo puts two top execs on leave as scandal's reach grows; regional banks freed from SIFI label lobbying regulators hard for more relief; FDIC to launch innovation office to help banks compete with fintechs; and more from this week's most-read stories.
