Federal financial regulators are preparing to dramatically reshape several major banking rules and create others, filling the policymaking void left by a bitterly divided Congress.
In the absence of congressional action, they’re moving quickly on a number of fronts, from providing guidance on digital currencies to more strictly scrutinizing bank mergers to modernizing the Community Reinvestment Act. Regulators in some cases are seizing the opportunity to fulfill the Biden administration’s liberal agenda even in the face of massive pushback from industry.
