Beth Hammack, who stepped down as the bank's co-head of global finance earlier this year, will take the helm as President of the Federal Reserve Bank of Cleveland later this summer following the retirement of longtime President Loretta Mester.

In a speech, the Federal Reserve governor said she would have liked to see the Federal Open Market Committee move more quickly to reduce its holdings. The central bank is poised to begin slowing the pace of balance sheet runoff this week.

House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg to make himself available for a June 12 hearing on the agency's workplace culture.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.

Federal Reserve Vice Chair Michael Barr Monday spoke at length about efforts to enhance banks' liquidity and long-term debt positions after last year's bank failures while saying little about the capital hikes in the embattled interagency Basel III endgame proposal.

A recommendation to give Ginnie Mae expanded authorities is drawing focus in the reactions to a Financial Stability Oversight Council report on nonbank risks.

Rohit Chopra, director of the Consumer Financial Protection Bureau, said Friday that the agency will be moving forward with rules and enforcement actions after the defeat of a Supreme Court challenge to the agency's constitutionality.

The Supreme Court issued an opinion Thursday morning that was unequivocal in its view that Congress is constitutionally empowered to fund agencies with open-ended and indirect funding mechanisms, overruling a 5th Circuit opinion from 2022 that found that executive branches must be subject to direct Congressional appropriations.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.

Rep. Andy Barr, R-Ky., is asking the Federal Deposit Insurance Corp. to withdraw a corporate governance guidance proposal as FDIC Chair Martin Gruenberg is set to testify in Congress later this week.

The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.

When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

Rep. Andy Barr, R-Ky., is introducing a bill to establish an Office of Supervisory Appeals at each of the banking regulators that would give banks more power over the appeals process.

During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.

House Republicans held a subcommittee hearing on reforming bank merger M&A, laying the groundwork to counter Biden administration efforts to make it more difficult for mergers to be approved.

Banks and other financial market participants have been keyed into the central bank's communications around monetary policy expectations. But in an unpredictable economy, the guidance doesn't always hit the mark.

Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.