FTC Builds On Treasury Cloud Concerns, Seeks Competition, AI Views
Scott, Warren Reach Over Partisan, Ideological Divide to Blast the Fed
Demonstrating the confluence of populist and progressive thinking about the Fed we anticipated at the start of this year, Sens. Rick Scott (R-FL) and Warren (D-MA) have introduced legislation mandating that the Fed’s inspector general be fully independent of the chair and board of governors.
Fed Under Still More Pressure to Boost Regional-Bank Supervision
Sen. Warren (D-MA) continued her prolific letter-writing campaign, today also joining with Sens. Duckworth (D-IL), Blumenthal (D-CT), Sanders (I-VT), Reed (D-RI), Hirono (D-HI), Markey (D-MA), King (I-ME), Whitehouse (D-RI), Smith (D-MN), Van Hollen (D-MD), and Schatz (D-HI) to call upon Vice Chairman Barr quickly to heighten regulatory standards for banking organizations between $100 and $250 billion.
Powell Protests Suggestions Of Fed Supervisory Error
At his press conference today, Chairman Powell sought to defend the Fed so vigorously that some of his comments may ignite still more criticism.
Yellen Denies FDIC-Coverage Rewrite, Suggests Need for Liquidity-Rule Revisions
In her appearance today before the Senate Appropriations Subcommittee on Financial Services and General Government, Treasury Secretary Yellen refuted press reports that Treasury is considering significant deposit-insurance coverage expansion, saying only that the banking system is safe and it is too soon to consider structural reforms.