Sarah Bloom Raskin, President Biden’s pick for Federal Reserve bank supervisor, is in hot water over her revolving door roles between the government and private sector. According to multiple reports Thursday (Feb. 10), the main question that came up during her confirmation hearing last week...
It was a tough day for Sarah Bloom Raskin, who has been president’s pick to hold a key post at the Federal Reserve Board. A former top U.S. Treasury Department official during the Obama administration, Raskin faced a grilling from Republican members of the Senate...
Jelena McWilliams, a Trump-era appointee banking regulator, has resigned as of Friday (Dec. 31), per a Financial Times report. This will offer the new Biden admin a better way to reshape how financial oversight works under the new presidency. McWilliams said she will leave the...
The Biden administration is considering former Fed governor Sarah Bloom Raskin for a top position at the Federal Reserve. As the Wall Street Journal reported Tuesday (Dec. 28), Raskin would become the central bank’s vice chairwoman of supervision, while two other nominees would fill board...
U.S. President Joe Biden signed an executive order on Monday (Dec. 13), making it so 17 government agencies will now have to make it easier for people to apply for government-provided services, a press release from The White House notes. Biden said there was a...
Sanctions against Russia by the U.S. are being weighed to deter Russian President Vladimir Putin from launching an invasion into Ukraine, including severing the country from the SWIFT international payment system used by banks worldwide, CNN reported on Monday (Dec. 6), citing sources. Final decisions...
LendingClub is backing the Small Business Lending Disclosure Act, a bill introduced in the U.S. House and Senate this week that calls for extending the transparency standards of the federal Truth in Lending Act to small business financing. “Small business owners deserve transparent disclosure of...
The rocky road to confirm President Joe Biden’s pick to head the Office of the Comptroller of the Currency (OCC) hit potholes during the Senate confirmation hearing as Saule Omarova’s childhood in the former Soviet Union — now Kazakhstan — and her undergraduate work were...
Senate Democrats are divided in their support of President Joe Biden’s nomination to lead the Office of the Comptroller of the Currency (OCC) Saule Omarova and could scrap the choice ahead of a vote. As a key banking regulatory authority that operates independently from the...
