FDIC issues regulatory relief guidance for Illinois, Connecticut

The deposit insurance system has served the nation well, but recent events have raised questions about whether the system can be improved to reflect the modern realities of banking, American Bankers Association Chair Elect Kenneth Kelly told senators.

The Producer Price Index decreased 0.1% in August from the previous month, the Labor Department reported. The index showed prices increased 2.6% from a year before.

Comptroller of the Currency Jonathan Gould emphasized the Trump administration’s recent “clarifications and changes to our existing policies” addressing charges of widespread debanking, then addressed the potential risk to bank deposits from stablecoins.

The Senate Banking Committee voted 13-11 to advance the nomination of economist Stephen Miran for an open seat on the Fed board.

A federal court issued a preliminary injunction against President Trump's removal of Federal Reserve Governor Lisa Cook from the Fed board.

In testimony before House lawmakers, ABA EVP Hugh Carney outlined four key policy recommendations aimed at making financial regulations “more predictable, transparent and risk-focused while preserving the vibrancy and competitiveness of the American banking system.”