Policy News from American Banker

Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.

Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.

Comptroller of the Currency Jonathan Gould said in an interview with American Banker that his agency is looking at whether its own internal guidance may have contributed to a climate where banks feel the need to "cite everything" to avoid supervisory penalties.

Following the lead of banking regulators, the National Credit Union Administration has proposed a rule that would eliminate references to reputational risk from its examination manuals and would forbid debanking based on political views.

Real due process in bank supervision is not merely administrative housekeeping — it is fundamental to the credibility, fairness and effectiveness of the regulatory system.

The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.

Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.

Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.

The enhanced Supplementary Leverage Ratio has for too long wrongly penalized low-risk market-making activity by U.S. banks. Targeted reforms come at a time when liquidity is about to be severely tested.

Earlier in the day, Fed Gov. Stephen Miran chastised the Fed for wading into politics under the Biden administration, as he currently takes unpaid leave from President Donald Trump's top advisory council.

Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.

Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.

Federal Reserve Gov. Stephen Miran said Thursday that the central bank's forays into examining climate change and racial justice under the prior administration politicized the Fed. He also argued that Fed officials should limit their comments on economic policies such as tariffs.

Federal Reserve Governor Michael Barr said strong oversight mechanisms and consumer protections are needed for stablecoins to make them a more viable payment instrument.

During cybersecurity awareness month (October), financial institutions have ramped up education on phishing, fraud and cyber hygiene. Here's what they're saying.

The conditional approval came with residency waivers for board directors and green-lights the bank's business model, which is aimed at serving tech companies and ultra-high net worth customers in the digital asset space.

Federal Reserve Gov. Christopher Waller said Wednesday that breakthroughs in artificial intelligence will undoubtedly make life easier and lead to growth, but acknowledged that the technology's adoption will lead to short-term labor market disruptions.

Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.

The Federal Reserve's policies are pressuring banks' balance sheets. While Chairman Jerome Powell is talking about backing off quantitative tightening, he may be waiting too long.

Treasury laid off all of its Community Development Financial Institution Fund staff on Friday, with the reduction in force notices saying that the department plans on abolishing the fund.