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 senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.
The president's rough-and-tumble trade negotiations have throttled financial markets, causing investors to flock to the safety of dollars and Treasuries. But some economists say this style of policymaking could have hurt the U.S.'s safe haven status in the long run.
Donald Trump's second administration is widely expected to be far less skeptical of bank mergers than the Biden administration has been, but industry experts say that political opposition to big bank mergers and business considerations will still be roadblocks.
In a Friday speech, Federal Reserve Board member Michelle Bowman said regulation and supervision should be aimed at expanding banking access, not limiting it.
Federal Reserve Gov. Michelle Bowman is widely seen as the president's most likely choice for vice chair for supervision, a position soon to be vacated by Michael Barr. But while Bowman is the administration's most straightforward option, it's not the only one being considered.
The Federal Reserve chair said banks are well situated to handle risks related to crypto customers, but added that regulatory scrutiny of banks' direct engagement with the assets will be greater than for simple custody arrangements.
The nation's central bank held interest rates steady in its first decision of the year.
The Federal Reserve's monetary policy group is expected to hold rates steady, but the chairman will face a litany of questions about the year ahead and on the inflationary impact of implications of the Trump administration's early policy moves.
Greg Baer, head of the Bank Policy Institute, echoed the president's assertion that unchecked supervisors are urging banks to drop risky clients .
A Government Accountability Office report Thursday said emergency actions taken by federal regulators in the wake of Silicon Valley Bank's failure were justified and appear to have stemmed further disruption, but noted those actions could contribute to moral hazard.