Politics and policy
- Banking
Culture war priorities stoke Republican hostility towards banks
WASHINGTON — Cratered support among the Republican base, new priorities in the banking industry and simple pragmatism have significantly weakened…
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Banks decry CFPB $8 late fee, say small business review needed
Hundreds of small community banks and credit unions are claiming they will suffer economic harm if a plan by the…
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Policy advocates question brokered deposit role in Silvergate run
As lawmakers probe one bank’s crypto dealings and use of housing-focused funding amid a deposit run last year, others in…
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Powell to Congress: Fed can’t protect economy from U.S. debt default
WASHINGTON — Federal Reserve Chair Jerome Powell delivered a clear message to Congress on Wednesday afternoon: raise the debt ceiling…
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Democrats balk at new spending rules, elimination of diversity panel
WASHINGTON — The House Financial Services Committee’s new chairman, Rep. Patrick McHenry, R-N.C., fended off criticism from Democratic lawmakers on…
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Fed tightens rules to limit its employees’ political advocacy
Federal Reserve officials quietly tightened internal restrictions on employees’ political activities after several reserve banks ran afoul of Congress over…
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CFPB will cut credit card late fees to $8
The Consumer Financial Protection Bureau plans to cut credit card late fees to $8, wiping out up to $9 billion…
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Nebraska banks seek changes to anti-ESG bill tied to public deposits
The Nebraska Bankers Association is raising concerns about legislation that would bar state treasurers from depositing public funds in financial…
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Senators press Silvergate on FHLB loan in the wake of FTX collapse
WASHINGTON — A bipartisan group of senators asked Silvergate, the bank connected to the failed crypto exchange FTX, if the…
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Banks say CFPB’s data access rule ratchets up liability risks
Banks and credit unions are raising concerns about data security risks and oversight of third-party partners as the Consumer Financial…
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