Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
This week, Federal Reserve Gov. Michelle Bowman cast the first dissenting vote at an FOMC meeting in years. On Friday, she explained why the economic data she's seen didn't convince her of the need to cut rates as much as her fellow governors thought.
Consumer Financial Protection Bureau Director Rohit Chopra joins the Federal Deposit Insurance Corp.'s two Republican board members in opposing a revamped Basel III endgame proposal, leaving the future of the nascent plan uncertain.
The Federal Reserve chair said he supports the revised proposal outlined by Vice Chair for Supervision Michael Barr and said the new proposal would get a vote by the full Board of Governors early next year.
The move signals the end of the Federal Reserve's battle against runaway inflation in the wake of the COVID-19 pandemic. Fed officials expressed divergent views on further action this year.
Federal Reserve Vice Chair for Supervision Michael Barr conceded major points to the industry on last year's capital reform proposal. But how regulators will approach other reforms in light of that experience is uncertain.
Consumer Financial Protection Bureau Director Rohit Chopra said the action would "close the book" on the agency's investigation into the Sallie Mae spinout.
The Federal Reserve's inspector general says the reserve bank CEO did not trade on confidential information or have conflicts of interest, but did violate central bank rules and policies.
Fieldpoint Private Bank & Trust and its parent company entered a written agreement with state and federal supervisors pledging to address several compliance issues.
Large banks welcomed regulators' proposed changes to last year's controversial reform package, but remain skeptical about the need for more capital.
Federal Reserve Vice Chair for Supervision Michael Barr outlined the changes he and other regulators would like to see to the capital reform plan, including largely excluding banks with less than $250 billion of assets.