Brendan Pedersen covered Capitol Hill and regulatory politics for American Banker until September 2022. From 2019-2021, he covered the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency as well as fintech policy. Originally from Chicagoland, he was previously a staff writer for Kiplinger's Personal Finance and covered local business affairs in Denver, Colorado for BusinessDen.
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The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector.
August 21 -
A new bipartisan senate caucus organized around community development financial institutions is just the latest sign that the sector's political influence is reaching new heights.
August 15 -
Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.
July 13 -
Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.
June 15 -
In a letter Tuesday to CEO Charlie Scharf, Senate Banking Committee Chair Sherrod Brown pointed to recent media reports and said he expected Wells Fargo to develop a plan addressing “weaknesses that have plagued the bank for almost a decade.”
May 31 -
The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.
April 29 -
Sen. Pat Toomey, R-Pa., is accusing the Consumer Financial Protection Bureau of pressuring Equifax, Experian and Transunion into removing most medical debt from credit reports, a move he says would compromise lenders' ability to gauge risk. Democrats, experts who testified at a hearing Tuesday and the CFPB pushed back.
March 29 -
All five of the Biden administration's nominees received enough votes to secure passage to the Senate floor. Chair Sherrod Brown of Ohio called the moment "historic."
March 16 -
The West Virginia Democrat released a statement Monday saying that Sarah Bloom Raskin, President Biden's nominee to serve as the Federal Reserve's top regulator, "failed to satisfactorily address my concerns" and that he would not support her. Manchin's "no" vote puts her confirmation very much in doubt.
March 14 -
The Montana Democrat also urged his Senate colleagues to pass the SAFE Banking Act, while Sen. Jerry Moran of Kansas claimed that the Republican boycott of Sarah Bloom Raskin had nothing to do with her views on climate change.
March 9
