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.
The Federal Reserve's outgoing vice chair for supervision touted a "culture of curiosity" among the central bank's supervisors, but said it is a challenge to balance responsibility and innovation.
Federal agencies have a little more than two weeks to devise plans for achieving significant staff reductions and cost savings.
The Independent Community Bankers of America issued a statement supporting agency independence and called for "careful study" before the administration pursues merging bank regulatory agencies.
During his final week as the Federal Reserve's top regulator, Michael Barr outlined several proposals that he believes would bolster the financial system against emerging risks.
The Office of the Comptroller of the Currency is the latest federal banking agency to let go of probationary employees.
Federal Reserve Vice Chair Philip Jefferson said clearer Fed communication and better text analysis has made monetary policy transmission more efficient, but noted that the central bank must remain diligent in how it communicates forward monetary policy guidance.
A White House order peeling back agency independence would curtail bank regulation in the near term, but could set the stage for long-term uncertainty and volatility.
The Federal Reserve's top regulator said banks drop customers they see as too risky, and anti-money-laundering actions are "just straight-up-the-middle risk management and banking."
Federal Reserve Gov. Michelle Bowman — who is viewed as a leading contender to be the next vice chair for supervision at the central bank — said changes to the post-financial crisis framework should be a focal point of the Fed's regulatory policy review.
Federal Reserve Chair Jerome Powell said reserve banks will no longer factor "reputational risk" into master account decisions. The crypto industry is encouraged by the commitment, but says more changes are needed.