Policy & Regulation

The Senate confirmed former Federal Deposit Insurance Corp. board member Jonathan McKernan to serve as Treasury's under secretary for domestic finance on a party-line vote, installing a key industry ally in the Treasury Department.

Federal Reserve Gov. Stephen Miran sidestepped whether policy setting pressure from the administration is a welcomed development, but reiterated that he wants to avoid succumbing to "groupthink."

The Federal Deposit Insurance Corp. approved proposals Tuesday that would define "unsafe or unsound practices" and ban the use of "reputation risk" in supervisory exams.

Legal experts say the Supreme Court's decision not to immediately rule on a request to remove Federal Reserve Gov. Lisa Cook from office suggests that, whatever the court's views on independent agencies may be, it views the central bank differently.

The Office of the Comptroller of the Currency Monday said it will scrap fair housing reporting requirements, fast-track licensing for small banks and simplify regulation for smaller institutions overall.

Supplies of the one-cent coin have fallen faster than expected, causing headaches for cash businesses and the lenders that provide them with change.

Comptroller of the Currency Jonathan Gould says he wants to crack down on big banks caught cutting ties with controversial, if lawful, individuals and businesses, as required by President Trump's debanking initiative.

Many banks lowered the interest rates they pay on certificates of deposits and high-yield savings accounts in September, capitalizing on the Fed's 25-basis-point cut.

The fund is designed to generate a financial return, as well as Community Reinvestment Act credit, for TD. Its inaugural investment is in a mixed-use project that will include 49 affordable housing units.

A government shutdown and a single senator's hold prevented the renewal this week of a bipartisan law that helped banks and other firms defend against hackers.