Financial Regulation

Amid a crisis for homeowners, Democrats have done little while Republicans pursue an agenda of bailouts and deregulation.

Last Friday, former FDIC Chair Sheila Bair decided to offer her two cents on the broader conversation surrounding the recent sentencing of Sam Bankman-Fried . Her takeaway from SBF’s trial and conviction on seven counts of fraud and conspiracy? We need financial literacy classes for children. 

Biden erred with his renomination of Powell, but if he gets another chance, he must choose a central bank leader dedicated to properly tackling the myriad challenges facing the Fed, which range from price stability and full employment to financial stability and climate-related financial risk.

One year after the collapse of Silicon Valley Bank, Federal Reserve chair Jerome Powell is obstructing the finalization of tougher capital requirements for banks — and increasing the chances of more turbulence.

Political reporters must explain the consequences likely to ensue if Steven Mnuchin, Joseph Otting, or their pro-Wall Street doppelgangers return for a second Trump administration.

Campaign coverage should feature more questions about who would again feature in a second Trump Administration.

Last month, Capital One announced that it plans to purchase Discover in a deal worth $35.3 billion. For their campaign to secure regulatory approval, Capital One is trying to act like a benevolent pro-consumer company that will use economies of scale to lower interest rates and ramp up competition with Visa and Mastercard. But that’s probably baloney. 

Soon after Biden renominated Powell, the ostensibly dovish Fed chair embarked on the most intense and sustained series of rate hikes in decades. We were told that this wouldn’t happen!

Inflation is falling, but Jerome Powell has nothing to do with it. Our democracy and climate face mounting instability—and he has everything to do with that.

Accounting’s technical jargon makes the industry obscure to most Americans. It’s likely your next-door neighbor has no idea of the PCAOB’s activities, its responsibility to protect investors, or its history of negligence. That’s expected, but chair Williams is now working to turn the ship around to fix the shortcomings of one of America’s most consequential oligopolies, and it will improve the economic lives of an unaware public.

Dissenting Commissioner Christy Goldsmith Romero, meanwhile, warned that the agency’s approval of a vertically integrated crypto market threatens to open a Pandora’s box.

We need a democratic process for appointing leaders of regional Fed banks.