March 14, 2017
- The Federal Reserve Bank of Atlanta announced Monday that it selected Raphael Bostic to serve as its new president and chief executive officer, replacing Dennis Lockhart, who retired from the Atlanta Fed at the end of February. Bostic’s appointment at the Atlanta Fed takes effect on June 5, 2017.
- The Vice Chairman of the Federal Deposit Insurance Corp. just unveiled a proposal to regulate banks in a way he feels will be superior to current Dodd-Frank financial reform. Speaking at the Institute of International Bankers Annual Washington Conference, Thomas Hoenig said that while Dodd-Frank is well intended, the regulations are too burdensome for all banks, “especially smaller banks.”
- President Donald Trump held a listening session Thursday to talk to leaders of community banks. In the session, also attended by Treasury Secretary Steven Mnuchin and Gary Cohn, head of the National Economics Council, Trump promised lenders that soon they would be safe to loan and create jobs, according to an article by Renae Merle for The Washington Post.
- The three credit rating agencies will soon exclude tax liens and civil judgments from credit reports for many people, according to the The Wall Street Journal. Equifax, Experian and TransUnion will remove the tax-lien and civil-judgment data starting around July 1, helping omit negative information from the financial scorecards, the article noted.