The Justice Department’s probe into whether Jerome H. Powell, the chair of the Federal Reserve, lied about renovations to the central bank’s headquarters has raised alarms.
Category: Senate Committee on Banking
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Stephen Miran, Trump’s Pick for Fed, Says He Will Preserve Its Independence
Stephen Miran is scheduled to face members of the Senate Banking Committee on Thursday as the administration steps up its attacks on the Federal Reserve.
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How the Crypto Industry’s Political Spending Is Paying Off
Federal lawmakers who benefited from crypto largess in the 2024 election are speedily advancing the industry’s agenda.
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Fed Chair Faces Lawmakers at a Critical Juncture
Jerome H. Powell is set to testify as inflation risks are resurfacing, regulatory changes are in flux and the Federal Reserve’s policy independence is in the spotlight.
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Why Lobbyists Are Still Fighting Congress on Money Laundering
A law to require disclosure of corporate ownership takes effect Jan. 1. Small businesses and banks say it would be too burdensome and are turning to lobbying and the courts to delay or block it.
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Senate Republicans Grill S.E.C. Chair on Pace of Rule Making
Gary Gensler told a Senate Banking Committee that he was not pushing through new rules without giving businesses time to respond.
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Divvy Wants to Make Rent-to-Own Deals Easy. Many Customers Find Them Hard.
The start-up’s innovative business model has helped some renters save for a down payment on their home, but others have walked away frustrated by the company.
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What Businesses Can Learn from Antony Blinken’s China Trip
The secretary of state’s visit raised hopes that the world’s two biggest economies might stabilize relations, but the biggest challenges were not unresolved.
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Regulators Rebut Claims by Silicon Valley Bank’s Ex-C.E.O.
The bank had not fixed its problems before it failed, they said. Its leader was not excluded from the sale process.
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SVB’s Ex-C.E.O. Becker Deflects Blame for Collapse
Senators derided Gregory Becker at a hearing about the failure of his bank. “It sounds a lot like ‘my dog ate my homework’,” one said.
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Silicon Valley Bank’s Risks Went Deep. Congress Wants to Know Why.
The New York Times – Business:Lapses at the bank will be a focus as a top Federal Reserve official testifies to House and Senate committees this week.
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Debt Default Would Cripple U.S. Economy, New Analysis Warns
The New York Times – Business:As President Biden prepares to release his latest budget proposal, a top economist will warn lawmakers that Republicans’ refusal to raise the nation’s borrowing cap could put millions out of work.