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.
Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.
Federal Reserve chair Jerome Powell flagged a recent upward revision to income and savings data as a sign of economic strength. He said the information could factor into the central bank's monetary policy discourse during the Fed's next interest rate meeting in November.
Top banking trades have thrown their support behind the central bank's argument that it has discretion over access to its payments systems. Custodia is seeking to appeal a lower court ruling that affirmed that discretion.
Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.
While other Washington regulators revise their approaches to merger reviews, the Federal Reserve has made no official change to its framework. The $35 billion merger could demonstrate just how differently the central bank is approaching the issue — if at all.
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.
After months of anticipation, Federal Reserve Vice Chair for Supervision Michael Barr is set to lay out the path forward for the interagency regulatory capital reform effort known as the Basel III endgame on Tuesday.
Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead.
Federal Reserve Bank of New York President John Williams said he's seen enough data to be comfortable with a rate cut at the Federal Open Market Committee meeting later this month.
The central bank has been under pressure to modernize its last-resort lending operation since the failure of three large regional banks last year.
The Republican presidential nominee laid out his economic platform during a speech at the Economic Club of New York.