Government Relations Policy Updates

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.

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.