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.
During a Senate Banking hearing with regulators, Sens. Jon Tester, D-Mont., and Mark Warner, D-Va., raised concerns about sweeping policy changes, while bipartisan consensus emerged around curbing executive compensation.
The senator accused the watchdog of failing to hold Federal Reserve Chair Jerome Powell and others sufficiently responsible for violating rules on investment activities.
Michael Barr, the Federal Reserve's vice chair for supervision, fought back against criticisms by Republicans on the House Financial Services Committee that toughening capital requirements would be an overreaction to the recent banking crisis.
In its biannual supervision and regulation report, the Federal Reserve said the banking sector was strong but showing signs of shakiness after recent bank failures.
Comments from Federal Reserve Gov. Michelle Bowman last week show that supervisory reforms outlined by the Fed's top regulatory official could meet significant opposition, policy analysts say.
The former vice chair for supervision challenged his successor's report on the failure of Silicon Valley Bank, said changes that move away from transparency and consistency 'won't survive' in court.
The Federal Reserve Board governor also called for the Fed to commission an independent investigation into the failure of Silicon Valley Bank.
The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.
The president of the Federal Reserve Bank of New York said the performance of office loans is a top supervisory issue, but not an immediate threat to financial stability.
The Fed's report on the failure of Silicon Valley Bank describes a "shift" in supervisory culture that began five years ago. Some say the issue is much older than that.