Note: The author is President and CEO of the Bank Policy Institute and an Adjunct Professor at Georgetown Law School.  His past roles include General Counsel and Executive Vice President at The Clearing House and Assistant Secretary of the Department of Treasury for Financial Institutions.  Thanks for assistance to Phillip Middleton, Alastair Ryan, Shailesh Kotwal, …

Stories Driving the Week Big Tech, FinTech Payment System Access Hinges on Fed’s Path Forward “The issue of who can access the Federal Reserve’s payment system is an important one, and it is good that the Fed has sought comment on the complex questions surrounding it,” BPI President and CEO Greg Baer said in a statement this …

Washington, D.C. — Bank Policy Institute joined the American Bankers Association, CBA, CUNA and NAFCU to issue the following statement in response to the Federal Reserve’s decision to revisit Regulation II. The Durbin Amendment has been flawed from the beginning, making it harder for banks and credit unions to serve consumers, causing unintended consequences for …

Mr. Blake Paulson Acting Comptroller Office of the Comptroller of the Currency 400 7th Street, SW Washington, D.C. 20219 Re: Request to Formally Withdraw or Delay the June 2020 CRA Rule The undersigned trade associations appreciate the OCC’s efforts to create a Community Reinvestment Act (CRA) framework that is more objective, transparent, and in line …

Washington, D.C. — Bank Policy Institute President and CEO Greg Baer issued the following statement today in response to a request for comment by the Federal Reserve on proposed guidelines that would govern access to Fed accounts and the nation’s payment system: The issue of who can access the Federal Reserve’s payment system is an …