Stories Driving the Week Capital, Climate, M&A: Bank CEOs on the Hill CEOs of the seven largest U.S. consumer-facing banks testified on Capitol Hill this week in hearings before the House Financial Services Committee and the Senate Banking Committee. Here are key takeaways from their testimony. Capital: A key theme of the hearings was that capital …

Households without a bank account must rely on higher-cost and less convenient alternatives from nonbank financial service providers for financial products and services. These households, referred to as “unbanked,” are predominantly low-income, and their unbanked status is a barrier to full integration into the American economy. Fortunately, much progress has been made over the past …

Originally published by American Banker CEOs of America’s largest retail banks are testifying before Congress this week. As lawmakers turn their eyes on the banking industry, minority banks and their partnerships with the largest U.S. banks can shed light on the industry’s efforts to eliminate racial wealth disparities and the growth that these partnerships can …

To withdraw monetary policy stimulus, the Federal Reserve is shrinking its portfolio of securities, a process often referred to as “quantitative tightening” or “QT.” But the Fed can’t shrink its assets without also shrinking its liabilities — in particular, reserve balances of banks. One would expect that repaying liabilities would be relatively easy, but the …