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banking lobby
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- 1Retail and Banking Groups Clash Over Swipe Fee Legislation●DON'T LET CORPORATE MEGA-STORES FOOL CONGRESS AGAIN!
A payments industry coalition is urging Americans to push back against legislation that would require large banks' credit cards to work on multiple networks, a fight driven by big retailers seeking lower swipe fees. The campaign warns that merchants, not consumers, would benefit, renewing a long-running battle over interchange costs as Congress weighs the measure.
- 2Governments worldwide cut bank capital adequacy ratios●Across the world, Govt.'s are lowering capital adequacy ratios for banks; Meg Hillier, chair of the Treasury select comm
Governments around the world are lowering capital adequacy ratios for banks, reducing the reserves lenders must hold. Meg Hillier, chair of the UK Treasury select committee, expects British banks to lobby hard for the UK to follow suit. Critics warn the trend could weaken financial safety buffers built up after past banking crises.
- 3
Estadão reports new audio recordings in which lawyer Walfrido Warde urges Banco Master owner Daniel Vorcaro to have former finance minister Guido Mantega intervene with President Lula on the bank's behalf. The recordings add to the controversy surrounding the Central Bank's blocked takeover of Master and the political lobbying efforts to save it.
- 4Panama removed from EU tax blacklist▼Panama: Removed from EU list of Non-Cooperative Jurisdictions for Tax Purposes
The European Union has removed Panama from its list of non-cooperative jurisdictions for tax purposes, an official announcement confirms. The move ends Panama's designation as a jurisdiction that failed to meet EU tax transparency and good governance standards. It marks a significant diplomatic and financial win for Panama, which had lobbied for years to be delisted, and could ease pressure on its banking and financial services sector.
- 5Stripe and Ramp press Federal Reserve for direct payment access●Fintechs press for Fed access Stripe and Ramp executives highlighted their companies’ need for more access to the Federa
Executives from Stripe and Ramp said at a Federal Reserve conference that their companies need greater access to the Fed's payment rails. The appeals highlight ongoing friction between fintech firms and the central banking system, as fast-growing payment companies seek direct connectivity rather than relying on intermediary banks. Bankers and policymakers are watching closely, since expanded Fed access for fintechs could reshape how money moves in the US payments system.
- 6Banking lobby backs Bowman's plan to modernise Fed supervision▼Banking lobby welcomes Bowman’s plans to ‘modernise’ Fed supervision
US Federal Reserve governor Michelle Bowman has outlined plans to modernise the central bank's supervision of banks, and the banking lobby has publicly welcomed the initiative. Industry groups see the overhaul as a chance to ease regulatory burdens, while critics are likely to watch closely for any weakening of oversight.
- 7Banking groups run ad praising Senator Hyde-Smith on growth▼ABA, MBA release ad encouraging Sen. Hyde-Smith to continue championing economic growth
The American Bankers Association and the Mortgage Bankers Association have released a joint advertisement encouraging Senator Cindy Hyde-Smith of Mississippi to keep supporting policies that promote economic growth. The ad frames the Republican senator as a champion of pro-growth measures favored by the banking and mortgage industries, and signals the two trade groups' continued political backing for her.