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Posted Date: Friday, March 15, 2024
During his recent testimony before the Senate Banking Committee, Federal Reserve Chair Jerome Powell said the Basel III Endgame capital standards proposal will likely see “material and broad changes” before it is finalized.
Many arguments against expanding Basel III risk-based capital standards beyond the largest, most complex institutions were brought front and center during the hearing. Read on »
Posted Date: Friday, March 15, 2024
House Republicans celebrated the passage of H.R. 2799, which aims to facilitate capital formation by strengthening public markets, helping small businesses and entrepreneurs and creating new investment opportunities. The bill passed via a 212-205 vote along party lines. Read on »
Posted Date: Friday, February 23, 2024
The Federal Reserve recently entered into a written agreement with Peoples-Marion Bancorp, Inc. Through a partnership with the Kentucky Department of Financial Institutions (KDFI), the Fed ordered the company to address multiple deficiencies related to the institution’s safety and soundness and remediating apparent legal and/or regulatory violations. Read on »
Posted Date: Friday, February 23, 2024
The financial industry is pushing back against the Federal Deposit Insurance Corp.’s proposed updates to corporate governance guidelines aimed at preventing bank failures like those in spring 2023. The guidelines would apply to banks with more than $10 billion in assets. Read on »
Posted Date: Tuesday, February 20, 2024
The Consumer Financial Protection Bureau recently announced its efforts to provide relief to consumers victimized by an illegal student loan debt-relief operation. Learn more about this matter, as well as what new information the Federal Deposit Insurance Corp. has to share in its latest update on the ongoing independent investigation into its workplace culture, along with news from the Federal Housing Finance Agency and the Federal Reserve. Read on »
Posted Date: Friday, February 2, 2024
The Federal Reserve once again left interest rates where they have been – in the target range between 5-1/4 to 5-1/2 percent – following the Jan. 31 meeting of the Federal Open Market Commission, pointing to recent indicators suggesting economic activity is expanding at a “solid” pace. Inflation will be the key determining factor for future changes to the target range changes. Read on »
Posted Date: Friday, January 19, 2024
Delving into the complex realm of bank capital policy, Federal Reserve Gov. Michelle Bowman stressed the importance of striking the right balance on the tradeoffs between industry perspectives and policy decisions during the “Protect Main Street” event, sponsored by the Center for Capital Markets. Read on »
Posted Date: Tuesday, January 16, 2024
The Federal Reserve cited former bank employees for alleged misappropriation of confidential bank records in four separate enforcement actions announced on the agency’s website. One of the actions involved records containing confidential supervisory information. Read on »
Posted Date: Friday, January 12, 2024
Federal Reserve Vice Chair for Supervision Michael Barr signaled the Fed is open to modifying aspects of the Basel III Endgame proposal on capital requirements during a recent speaking engagement. Specifically, Barr indicated the Fed may consider adjustments to provisions concerning operational risk and fee-based income, among others. Read on »
Posted Date: Monday, January 8, 2024
The minutes from the Federal Open Market Committee’s final meeting of 2023 indicate while the Federal Reserve does not anticipate the need to raise the target rate for interest rates in 2024, committee members are not ready to rule out the possibility. Read on »
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