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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Biden administration appointees moved quickly to highlight climate change risks and unwind Trump-era regulatory relief and housing finance measures. These regulators and lawmakers will have a seat at the table as the progressive shift in banking policy continues.
December 29 -
Consumer Financial Protection Bureau Director Rohit Chopra has helped assert the authority of the three Democrats — including himself — who serve on the governing body of the Federal Deposit Insurance Corp. GOP lawmakers responded with a bill to strip the consumer agency's head of voting powers on the FDIC board.
December 15 -
The White House is considering nominating Richard Cordray, who led the Consumer Financial Protection Bureau from 2013 to 2017, as the Federal Reserve's next vice chairman of supervision, according to a report in The Wall Street Journal.
November 30 -
In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”
November 11 -
A report by the agency found that consumers in majority Black neighborhoods were more than twice as likely as those in white neighborhoods to lodge complaints with the credit bureaus over information in their files. Meanwhile, disputes were less common among older borrowers.
November 2 -
The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.
October 26 -
Criticism from banking and other business groups of Saule Omarova’s candidacy could make it difficult for moderate Democrats to support President Biden's pick to lead the Office of the Comptroller of the Currency.
September 29 -
Saule Omarova supports allowing the Federal Reserve to hold customer deposits and is skeptical of big-bank M&A. While those views are unpopular in the industry, banking critics hailed the choice to lead the Office of the Comptroller of the Currency.
September 23 -
The Office of the Comptroller of the Currency made good on a promise to rescind Community Reinvestment Act reforms finalized by ex-Comptroller Joseph Otting as part of talks with other regulators on an interagency overhaul of the law.
September 8 -
The Office of the Comptroller of the Currency confirmed it will rescind an unpopular rule overhauling the Community Reinvestment Act and joined other agencies in calling for a renewed interagency effort.
July 20