With the recent issuance of an Executive Order by President Biden on promoting competition in the American economy, questions about the credibility of the regulatory approval process governing bank mergers have come to the forefront.  Regarding banking, the Executive Order calls on the Department of Justice in consultation with the federal banking agencies to review …

Introduction Americans of color, particularly Black Americans, face significant, interconnected barriers that have led to persistent financial and economic inequality and unacceptable outcomes across quality of life indicators, particularly regarding health care, education and wealth accumulation. While economic exclusion is a persistent problem for all marginalized communities, this document focuses primarily on the Black community. …

Recognizing the damage that a binding leverage ratio could do to the liquidity of Treasury markets during periods of stress, the Federal Reserve took action in 2020 to mitigate the effect of its dramatic increase in the level of reserve balances on banks’ balance sheets.  When those actions expired earlier this year, the Fed stated …

The events of 2020 provided clear evidence of the resilience of U.S. banks.  Banks funded the economy with extraordinary levels of lending and rode out the crisis without any major losses and with capital ratios rising, not falling.  While the Federal Reserve provided unprecedented support for U.S. corporations by purchasing their bonds in both the …

Approximately 4 million or more children are eligible, but are not yet receiving the advance child tax credit. The American Rescue Plan Act’s (ARPA) expansion of the Child Tax Credit (CTC) substantially supplements the earnings of recipient families.

Stories Driving the Week Crypto’s Political Capital to Be Tested Cryptocurrency is rising to the top of the priority list of top officials in Washington as the Biden Administration contemplates a broad crypto oversight push, including a potential executive order. The National Security Council and National Economic Council are coordinating in a “whole-of-government focus” to supervise crypto, …