stress tests

Judge says agency should not exist; the Fed says the largest banks are “strongly capitalized” and could withstand a severe crisis.

Jelena McWilliams said the agency will ask banks what's working and what's not; the acquisition of Hyperwallet Systems lets PayPal offer more services.

Federal Reserve Chairman Jerome Powell said the agency has its hand full between proposals on liquidity and capital requirements and additional mandates made by the recently enacted regulatory relief law.

The regulatory relief legislation rolls back several stress test requirements for regional and midsized banks, putting more onus on financial institutions and their regulators to ensure banks are managing their risk appropriately.

The Federal Reserve’s top regulator says proposed capital changes make system safer while overall capital levels are unchanged.