“How does it make sense to have two different credit risk capital requirements for the same exposure? It leads to inconsistent, even illogical, results” – Jon McKernan, FDIC. hubs.ly/Q02SvJsJ0

After five months of stalling, the Board finally put the FDIC on a path to investigating misconduct by executives. That delay was totally unnecessary, but also totally inevitable; just further proof that we need a fresh start at the top. My statement: fdic.gov/news/speeches/…

Is this what they mean by “gaslighting”?

Austin Campbell has been among the best in getting me smart on this issue. This thread is more of the same. We’re lucky to have him and others making sure we correct this abuse of power.

Cowen on debanking: “the U.S. banking system … is increasingly unattractive. It is also failing various market tests…. How innovative is it? … Can it integrate with crypto?  Relative performance is sliding, there is no other way to put it. - marginalrevolution.com/marginalrevolu…

Modernizing bank capital rules can provide relief to community banks, as ABA notes. It can also simplify the framework and level the playing field with nonbanks. But to do that, the “dual stack” structure has got to be dropped. Weedy but super important. bankingjournal.aba.com/2024/12/beyond…

The FDIC will now confirm the actual passivity of one (for now) of the Big Three index funds. This is a big change in policy that I've been pushing since January. With steps like this, the next admin’s banking, energy, and other regulators can get ahead of a real and growing

Reminder that Congress very clearly prohibited any part of govt other than FHFA from deciding upon GSEs’ conservatorships, including Treasury

Bad day for financial stability and protecting taxpayers against bailouts . . . even if all easily reversed. And sad to see the extent to which FHFA has been politicized and undermined over the last four years. fhfa.gov/news/news-rele…

Congrats Pulte ! FHFA has a critically important mission, and the team there is dedicated and fantastic. You're going to love the job. x.com/trump_repost/s…

What an absurd take here. Do to others as you would have them do to you. That was the true north long, long, long before we had DEIA offices. And we don't need DEIA to get back to that. Indeed the FDIC's DEIA offices did little to correct the culture of harassment and

Congrats to my good friend Luke! Fantastic choice for this important job.

It has been a great honor to serve on the FDIC Board. It is now time for me to step aside. My term has expired, and with the new Acting Comptroller, we would have more Republicans on the Board than permitted by law. I’ve every confidence that under the new FDIC leadership,

DEI and other ESG were pushed on banks by BlackRock and other index fund complexes due in part to gaps in the banking regulators’ monitoring for undue influence. The FDIC fixed that for Vanguard in December, and continues work to address BlackRock even after my departure.

A real honor to be celebrating Diwali in the Oval Office with Donald J. Trump - thank you Mr. President for your leadership and hospitality as always