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A lot has changed in the year since President Biden took office. Across the executive branch, leaders who believe in the power of government to advance the public interest have replaced predecessors who were intent on dismantling the institutions they led. Unsurprisingly, policy priorities have shifted as well, with regulators embarking on ambitious new rulemakings and ramping up enforcement.

But there is one troubling constant looming above all of these changes: President Trump’s holdover budget is (basically) still in place, leaving the Biden administration to implement a bold new agenda with funding levels negotiated and approved by an administration that was determined to make that impossible.

We must recognize the common root cause of many of the problems we are currently enduring: corporate greed.

The Revolving Door Project is fighting for an executive branch whose every corner is working tirelessly to advance the broad public interest and not to further entrench corporate power. That means scrutinizing the federal government’s highest ranks and applying pressure to keep them free of undue corporate influence. It also means interrogating whether the institutions those political leaders steer have the provisions they need to fulfill their missions. 

supervising all national banks, federal savings associations, and agencies of foreign banks. It primarily regulates the risk that banks can take on, delineates what is considered “banking,” and investigates banks’ balance sheets. 

Today the Revolving Door Project released a report on the Office of the Comptroller of the Currency’s OCC) capacity to implement and enforce climate regulation. This is the third installment of the project’s ongoing Climate Finance Capacity project \identifying the tools each component of the Financial Stability Oversight Council (FSOC) has to address the climate crisis through regulatory reform and the capacity-related obstacles that could stand in the way. Prior installments have looked at the Commodities Future Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).Through this project, we aim to highlight the responsibility each of these agencies have in regulating our financial system towards a more sustainable future, and the reforms necessary to achieve this vision as examined through the lens of each agency’s unique resourcing.

Since the start of the year, we have warned that failure to promptly fill vacant and expired seats on independent agency boards would undermine the Biden administration’s agenda across many issue areas. Now, as executive branch policymaking kicks into high gear across this administration, we are seeing examples of this warning becoming a reality. 

Many of Biden’s broadband equity initiatives are being overseen by a former telecom lobbyist with little expertise in digital equity.

Americans were more divided than ever in 2021, but everyone in the country still agreed on one thing: The Democratic Party has a messaging problem.

“We’ve got a national branding problem that is probably deeper than a lot of people suspect,” Democratic pollster Brian Stryker, who is currently working with the centrist think tank Third Way to understand why Democrats lost the recent governors’ race in Virginia told The New York Times. “I’m not going to argue it’s working right now, but I need it to work when it matters,” Rep. Sean Patrick Maloney (D-NY), chair of the Democratic Congressional Campaign Committee told The Washington Post in November of the Democrats’ efforts to sell their legislative victories. Senator Kirsten Gillibrand (D-NY) seemingly agrees, telling attendees at a recent fundraising dinner that “Democrats are terrible at messaging. It’s just a fact.”

Biden’s COVID czar has gone from ‘Mr. Fix-It’ to grim reaper, steering the administration’s pandemic response to catastrophic lows.

To truly bring an end to the Covid-19 pandemic which has ravaged the globe, the Biden administration must embrace a strategy of vaccine equity.

Climate change poses a serious threat to everything the Securities and Exchange Commission (SEC) is meant to protect and oversee. The Commodity Futures Trading Commission (CTFC)’s “Managing Climate Risk in the U.S. The Financial System ”report makes this abundantly clear. The report concludes that climate change may “exacerbate existing, non-climate related vulnerabilities in the financial system, with potentially serious consequences for market stability”. Furthermore, the physical and transitional risks of climate change will likely lead to systemic and sub-systemic financial shocks. These shocks would cause “unprecedented disruption in the proper functioning of financial markets and institutions” and further marginalize communities underserved by the financial system. To fulfill its mandate, of maintaining fair, orderly, and efficient markets, protecting investors, and facilitating capital formation, the SEC must proactively ensure there is enough personnel to monitor and enforce regulations that will keep markets stable and adaptable. 

Today, the Revolving Door Project released its SEC Climate Capacity Report examining the detrimental impact of capacity shortfalls on the Securities and Exchange Commission (SEC)’s climate work. This report is the second installment of its Climate Finance Capacity Project. The Climate Finance Capacity Project explores the power and responsibility that each of the Financial Stability Oversight Council’s member agencies has to address the climate crisis and consider how resource limitations threaten to limit their impact. 

McWilliams resigned after spending December publicly insisting that Chopra, Gruenberg, and Hsu were undermining her authority by conducting a legal, notational vote-by-mail on a proposed Request For Information (RFI) about possible updates to bank merger review rules.