Federal Deposit Insurance Corp. Chairman Martin Gruenberg said Tuesday that he is on the fence about whether to serve on the agency's board for the remainder of the year even after he is replaced as head of the agency.
Federal Reserve Chair Jerome Powell largely hewed close to his predecessor's positions in his first congressional testimony as the top central banker, but also signaled important changes when it came to paying banks interest on reserves and other topics.
The tax reform law passed late last year, which significantly cut the corporate tax rate, has been widely popular among banks, but a one-time hit to the value of their deferred tax assets was felt far and wide.
Acting CFPB Director Mick Mulvaney dismissed concerns by Sen. Elizabeth Warren, D-Mass., about his leadership of the consumer agency while supporting a lighter regulatory touch for credit unions.
Lawmakers should consider taxing large, banklike credit unions that have strayed from their original fields of membership, argues a credit union executive.
The quarterly earnings decline from a year earlier was largely due to a one-time hit to the value of banks’ deferred tax assets, according to the agency’s Quarterly Banking Profile.
Shares of the Providence, R.I., company plunged Monday, following a news report that it faces possible legal risks from the latest charges filed against Paul Manafort, the former campaign manager for President Trump.
Credit union executives talked up a pending regulatory relief effort while endorsing a radical shift in direction by the Consumer Financial Protection Bureau during a meeting with President Trump and other top White House officials on Monday.
