
Claire Williams covers banking policy matters on Capitol Hill. She previously wrote about financial and economic policy for Morning Consult and earlier had stints at S&P Global and the Arkansas Democrat-Gazette.
Claire Williams covers banking policy matters on Capitol Hill. She previously wrote about financial and economic policy for Morning Consult and earlier had stints at S&P Global and the Arkansas Democrat-Gazette.
Rep. Andy Barr, R-Ky., chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, continued to say that the Basel III rulemaking might have violated the Administrative Procedures Act
Rep. Andy Barr, R-Ky., pressed one witness to say that bank regulators' Basel III endgame proposal, which would raise capital significantly for the largest banks, may have violated the Administrative Procedure Act.
Cannabis banking, the Durbin-Marshall credit card bill and executive compensation legislation could be on the agenda this fall, but banking regulators' Basel III endgame proposal has made bipartisan compromise more complicated.
Two related cases the Supreme Court is considering hing on whether state laws preempt the National Banking Act on the payment of interest on mortgage escrow accounts.
Though the Federal Reserve's stress test scenarios were announced ahead of the string of bank failures this spring, the results will be a significant peek into the health of the banking system.
House Republicans will likely need to gain support from Democrats to get the debt limit deal through a critical vote in the House Wednesday evening.
House Financial Services Committee ranking member Maxine Waters, D-Calif., attempted to find bipartisan support from Rep. Andy Barr, R-Ky., for a number of amendments to bills meant to rein in regulators. What she got instead was a commitment to work on some measures in the future.
Former First Republic CEO Michael Roffler, in his first public comments since the failure of the bank, said changes to deposit insurance would be worthwhile for Congress to consider.
The Federal Reserve's survey of financial market participants also found worries about monetary policy tightening and the ongoing impacts of persistent inflation.
First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.