Government Relations Policy Updates

Congressional Research Service Examines Federal & State Banking Oversight

Posted January 30, 2018

This report provides an overview of the respective roles of the federal government and the states in regulating banking.

Acting CFPB Director Pens Op-Ed for WSJ & Other Staff Appointments at CFPB

Posted January 24, 2018

Interim Consumer Financial Protection Bureau Director, Mick Mulvaney, penned an Op-Ed for the Wall Street Journal. The theme was similar to a strongly worded memo sent to CFPB staff the same day. Acting Director Mulvaney slammed the "mission" of the agency under his predecessor while laying out a new governing philosophy for the bureau.

McWilliams Close to Leading FDIC

Posted January 24, 2018

FDIC Chair nominee, Ms. Jelena McWilliams will not be able to take over the agency until Vice Chairman Thomas Hoenig leaves around April 2, 2018.

CFPB Wants Feedback

Posted January 24, 2018

The Consumer Financial Protection Bureau posted a Request for Information on how it conducts investigations and enforcement.

Jerome Powell Confirmed as New Chair of Federal Reserve Board

Posted January 24, 2018

On Jan. 23, 2018, the U.S. Senate confirmed President Trump’s nominee – Jerome Powell – to serve as Chair of the Federal Reserve Board of Governors in a bipartisan 85-12 final vote.

U.S. Senate Reshuffles Committee Rosters

Posted January 10, 2018

On Jan. 9, 2018, the U.S. Senate released its updated committee ratios and assignments which now reflect the Senate’s 51-49 breakdown and newly-elected Senators Doug Jones (D-Ala.) and Tina Smith (D-Minn.)

Federal Judge Throws Out NYDFS Lawsuit Challenging OCC Fintech Charter

Posted December 13, 2017

On Dec. 12, 2017, Federal Judge Naomi Reice Buchwald for the Southern District Court of New York dismissed a lawsuit filed by the New York State Department of Financial Services (NYDFS) which sought to block fintechs from being able to acquire special purpose national bank charters.

NACHA Executives Meet with Fed Operations & Payments System Staff

Posted December 13, 2017

On Dec. 11, 2017, Members of NACHA’s Executive Team attended its third meeting of the year with Federal Reserve Bank Operations and Payments System staff.

Senate Banking Committee Approves Powell as Federal Reserve Board Chair

Posted December 5, 2017

On Dec. 5, 2017, the Senate Banking Committee voted (22-1) in approval of Jerome Powell’s nomination as Chairman of the Federal Reserve Board and will next be voted on by the full Senate.

Trump Nominates Jelena McWilliams to Lead FDIC

Posted December 4, 2017

President Trump will nominate Fifth Third Bank Chief Legal Officer, Jelena McWilliams, for FDIC Chair.