Regulation

The central bank should consider using a tool requiring higher capital amounts when times are good rather than offering temporary regulatory relief in a downturn, said Boston Fed President Eric Rosengren.

The agency first sought feedback in February 2020 on how it could update its logo, but the process was suspended two months later amid the COVID-19 pandemic.

State-level groups are pushing measures intended to improve the operating environment for the industry, such as increasing flexibility with field of membership, and providing parity with banks and federally chartered institutions.

The Department of Justice in the Trump administration hatched a plan to consider reforming its bank-merger review process, raising industry hopes about overhauling the outdated regime. But progressives want the agency to give more thought to the harm bank combinations cause consumers, including further branch closings.

Like their counterparts in the U.K., U.S. regulators should be working closely with the private sector to establish principles and guardrails to direct and focus tech advancements in ways that will protect consumers and financial stability.

The 9-0 ruling markedly diminishes the threat of lawsuits involving automated calls and text messages to consumers.

There are new regulations to address, but many requirements streamline current AML practices, says Mark Srere, an attorney at Bryan Cave Leighton Paisner.

Regulators are likely to scrap the Office of the Comptroller of the Currency’s divisive rule and instead pursue an interagency framework. But stakeholders commenting on a Federal Reserve draft plan say several aspects of the OCC regulation are worth keeping.

Proposed legislation would amend language in the Federal Credit Union Act to make it easier for credit unions to expel disruptive or abusive members.

Harper is only the third member of the National Credit Union Administration board to chair the council. Blake Paulson, acting comptroller of the currency, has been appointed vice chairman.