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.
Esther George, president of the Federal Reserve Bank of Kansas City, says changes in the office sector and monetary policy pose potential risks to property owners and their lenders.
Home prices have increased at their fastest rate since the mid-2000s housing boom and driven skyrocketing inflation. Fed Gov. Christopher Waller says lenders are better prepared for a shock than in 2007 but still need to be monitored — especially nonbank lenders.
Banking and credit union regulators are expected to respond to a White House call to root out discrimination in the predominantly white appraisal business. They will likely step up enforcement and data collection, reclaiming authority long ceded to the industry's governing body.
During his March Federal Open Market Committee meeting press conference, acting Federal Reserve Chair Jerome Powell said the Fed's supervision and regulatory panel was no longer active and key decisions about stress tests and bank mergers were being handled by the full board.
Sarah Bloom Raskin, whose views on the role of climate risk in bank supervision angered Republicans, said she has taken herself out of the running so the gridlocked Senate Banking Committee could move forward with the Biden administration’s other nominees to the Federal Reserve Board.
The White House’s ambition to bring new oversight to the banking industry and reverse Trump-era deregulation was dealt a blow when Sen. Joe Manchin of West Virginia said he would oppose Sarah Bloom Raskin's nomination as the Federal Reserve's vice chair of supervision.
President Biden's executive order on cryptocurrency assets and a central bank digital currency marks the beginning of the administration's efforts to integrate crypto technology into the financial regulatory apparatus. That process has important implications for banks in the near term and down the road.
Some consumer protection initiatives, including those aimed at limiting overdraft charges and capping interchange fees, might have contributed to this lingering issue, a new Government Accountability Office report says.