by Ken Chase | May 25, 2023 | Banks, News
U.S. Treasury Secretary Janet Yellen highlighted the importance of maintaining a diverse banking sector today. During virtual remarks to the Wall Street Journal’s CEO Council Summit, Yellen cautioned against further consolidation of large banks. She noted that...
by Ken Chase | May 23, 2023 | Banks, News
Federal Reserve Chairman Jerome Powell seemed to signal a potential pause in future Fed rate increases late this week. On Friday, Powell delivered remarks at a Washington conference. In his comments, he pointed to evidence that the current interest rates appear to be...
by Ken Chase | May 23, 2023 | Banks, News
This week, Federal Reserve Vice Chair for Supervision Michael Barr said tighter bank oversight rules could be revealed this summer. Barr noted that the new oversight plan would see regulatory supervisors increase scrutiny of lenders, according to Reuters. Barr’s...
by Ken Chase | May 18, 2023 | Banks, News
U.S Treasury Secretary Janet Yellen will meet with Bank Policy Institute board members on May 18 in Washington, D.C. She reportedly plans to discuss the current debt ceiling standoff with the board, which includes the CEOs of several of the nation’s largest banks....
by Ken Chase | May 17, 2023 | Banks, News
The Consumer Financial Protection Bureau issued a new CFPB circular this week, according to an agency press release. The circular is a warning to banks that unilaterally reopen customer deposit accounts to process fees. Banks that engage in that conduct could be...
by Ken Chase | May 16, 2023 | Banks, News
The Federal Deposit Insurance Corporation (FDIC) has unveiled a proposal to replenish its deposit insurance fund. The proposal released on Thursday would see the nation’s largest lenders bear more than 95% of the cost, according to a recent Reuters report. The fund...
