Brendan Pedersen covered Capitol Hill and regulatory politics for American Banker until September 2022. From 2019-2021, he covered the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency as well as fintech policy. Originally from Chicagoland, he was previously a staff writer for Kiplinger's Personal Finance and covered local business affairs in Denver, Colorado for BusinessDen.
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In an exclusive interview, the moderate Virginia Democrat and co-chair of the Community Development Financial Institution Caucus touched on the future of community development, cybersecurity and nonbank regulation.
September 9 -
Republican Sen. Pat Toomey criticized the degree of "opacity" surrounding some community benefit agreements, or written deals between banks and community groups ahead of a merger that often involve billions of dollars of commitments.
September 8 -
The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector.
August 21 -
A new bipartisan senate caucus organized around community development financial institutions is just the latest sign that the sector's political influence is reaching new heights.
August 15 -
First introduced in 2020, the Fair Access to Financial Services Act would require banks to serve all customers in a manner similar to existing requirements for hotels and restaurants under the Civil Rights Act of 1964.
July 26 -
Federal Housing Finance Agency Director Sandra L. Thompson told lawmakers on Wednesday that the agency would consider “foundational questions about mission, purpose, and organization” of the Home Loan Bank System.
July 20 -
Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.
July 13 -
Lawmakers on the Senate Banking Committee voiced some scattered support for changes to improve the finances of the National Flood Insurance Program, but comprehensive reform appears out of reach.
June 23 -
Several Democratic bills to support down-payment assistance for mortgage borrowers and other housing programs met with protests from Republicans, who said the legislation would further fuel inflation. The GOP maneuvers failed, but they highlighted the parties’ differing priorities ahead of the midterm elections.
June 22 -
Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.
By Kevin WackJune 15