Government Relations Policy Updates

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.

Trump Nominates Economist Goodfriend as Fed Governor

Posted December 1, 2017

On Nov. 29, 2017, President Donald Trump nominated economist Marvin Goodfriend to serve as a Federal Reserve Board Governor.

Otting Officially Comptroller of the Currency

Posted November 28, 2017

On Nov. 27, 2017, Joseph M. Otting became the 31st Comptroller of the Currency.

Battle Over CFPB

Posted November 27, 2017

Richard Cordray resigned as CFPB Director Friday, Nov. 24 and designated his Chief of Staff, Leandra English, as his temporary replacement, sparking a legal showdown with the White House over who will run the agency.

Janet Yellen Stepping Down from the Federal Reserve System’s Board of Governors

Posted November 20, 2017

On Nov. 20, 2017, Dr. Janet L. Yellen submitted her letter of resignation from her position as a Member of the Federal Reserve System’s Board of Governors, to be effective upon the swearing in of Jerome H. Powell as her successor for Chair.

Treasury Recommends Changes to FSOC SIFI Designations

Posted November 20, 2017

On Nov. 17, 2017, the U.S. Department of the Treasury released a report and fact sheet outlining proposed changes that would overhaul the way in which the Financial Stability Oversight Council (FSOC) addresses systemic risks, recommending a heavier focus on industry activities instead of individual firms.

Director Cordray Stepping Down

Posted November 15, 2017

CFPB Director Richard Cordray announced this morning that he will step down from his post at the

OCC Suggests Ending the Separation between Banking and Commerce

Posted November 10, 2017

On Nov. 8, 2017, Acting Comptroller of the Currency, Keith A. Noreika, delivered an industry conference speech in which he explored the topic of how the separation of banking and commerce evolved in the United States and called for a broader discussion of whether the separation continues to serve the best interest of the nation’s banking system and economy today.

NACHA Hosts Annual Government Relations Meeting at Capitol Hill Club

Posted November 10, 2017

On Nov. 8, 2017, NACHA’s Government Relations Advisory Group (GRAG) held its annual meeting at the Capitol Hill Club.

Chairman Hensarling Won't Seek Re-election in 2018

Posted November 1, 2017

On Oct. 31, 2017, Rep. Jeb Hensarling announced he will not seek re-election, marking the end of a political career defined by the Texas Republican's long-running struggle to pare back government intervention in the economy.