FRB

Federal Reserve Chair Jerome Powell appointed a new leader of the Fed Office of Inspector General, who will have oversight of the Consumer Financial Protection Bureau as well. Days later, the Fed announced its intent to investigate efforts to make massive staff cuts at the bureau ahead of his arrival. Read on »

The results of the Federal Reserve’s latest Senior Financial Officer Survey results indicated most bankers expect their balance sheets to remain unchanged over the next six months and plan to prioritize retention rather than growth strategies, with some exceptions. Read on »

The Senate voted to confirm Michelle “Miki” Bowman to serve at the Federal Reserve’s vice chair for supervision. The financial services industry, which has expressed strong support for Bowman since her nomination in March, reacted favorably to her confirmation. Read on »

A federal court is considering a request for a temporary stay on litigation in a lawsuit challenging the legality of the Federal Reserve’s bank stress testing regime. The plaintiffs joined with the Fed in asking for a halt in proceedings, acknowledging the agency’s “good-faith effort” to address transparency concerns raised in the suit. Read on »

The minutes from the May 6-7 meeting of the Federal Open Market Committee offer key insights into the considerations behind its recommendation for the Federal Reserve to leave the federal funds rate unchanged at a target range of 4.25 to 4.5 percent and the direction interest rates could be headed in the near future. Read on »

The House Financial Services Committee held a hearing to explore how the current regulatory regime governing bank mergers and new (de novo) bank formation impacts the financial sector. Lawmakers and witnesses discussed potential regulatory reforms aimed at fostering competition and ensuring widespread access to financial services. Read on »

The Federal Reserve announced there will be no change to the federal funds rate following the May meeting of the Federal Open Markets Committee (FOMC). The committee concluded maintaining the target range at 4-1/4 to 4-1/2 percent was the best approach given economic indicators suggesting the risk of higher inflation and unemployment has increased. Read on »

Federal banking regulators have taken steps to improve clarity surrounding digital banking activities, including crypto-assets and digitalization. Find out about some of the latest regulatory moves in this respect and more in this roundup. Read on »

The Federal Reserve has withdrawn various supervisory guidance materials outlining policies regarding cryptocurrencies and other digital tokens. The agency characterized the moves as necessary to ensure industry expectations align with evolving risks and further support innovation in the banking system. Read on »

As financial technology and digital assets remain ever-growing factors in the financial services industry, trade organizations continue to increase efforts to advocate for new policies to help their members remain competitive. Read about some of the latest developments with respect to this topic and more in this roundup. Read on »