WASHINGTON — Rep. Andy Barr, R-Ky., chairman of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, asked the Federal Deposit Insurance Corp. to withdraw a corporate governance proposal.
Last year, the FDIC proposed guidelines that would require FDIC-supervised banks with more than $10 billion in assets to increase board management responsibilities, a recommendation informed by the failures of Silicon Valley Bank and other large regional banks that summer.
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 … Read full bio
For reprint and licensing requests for this article, click here.
There is broad agreement that asset size alone is not the best way to measure a bank's systemic footprint. But getting equally broad consensus on another, better approach could be difficult.
President Donald Trump announced the formation of a committee to investigate allegations of mortgage impropriety by Federal Reserve Gov. Lisa Cook in an effort to remove her from office.
The Federal Reserve voted 6-1 to finalize its proposed stress test reforms, including seeking input on stress test scenarios and models annually and averaging results over two years.
Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
