A leading financial regulator in the United States is issuing a warning about stablecoins. Michael Barr, vice chair for supervision at the Federal Reserve, told an audience at a Washington, D.C. FinTech Week event Tuesday (Nov. 7) that stablecoins could function as a form of...
Michael Barr has become the latest regulator urging caution on the use of artificial intelligence. In a speech Tuesday (July 18), Barr — the Federal Reserve’s Vice Chair for Supervision — said that while artificial intelligence (AI) has the potential to expand credit to people...
Banks both big and small will face tougher rules following this year’s banking crisis. That was the message from Michael Barr, the Federal Reserve’s vice chairman for supervision, in a speech Monday (July 10). “Events over the past few months have only reinforced the need for humility and...
The Federal Reserve Board aims to make changes after the recent banking crisis. The failure of Silicon Valley Bank showed a need to strengthen supervision and regulation, Federal Reserve Board Vice Chair for Supervision Michael S. Barr said in testimony that was posted on the Fed’s website Monday (May 15) and...
April 03, 2023
The hearings on Capitol Hill are over. At least for the moment. The klieg lights have been switched off, the testimonies have been read, the lawmakers have grilled the regulators. And so, the question remains for the banks and the FinTechs: Now what? What’s next? And: Who’s ultimately responsible for changes to be made in […]
March 27, 2023
It’s common practice on Capitol Hill for witnesses — appearing before various committees — to release their testimony ahead of time. And what’s written down sets the tone for the...
February 14, 2024
It’s still too early to determine if the economy can have a soft landing, Michael Barr, vice chair for supervision at the Federal Reserve, said Wednesday (Feb. 14). Speaking at the National Association for Business Economics conference, Barr discussed the United States’ path to achieving 2% inflation, Reuters reported Wednesday. Barr acknowledged the difficulties that lie ahead, emphasizing the need […]
November 07, 2023
A leading financial regulator in the United States is issuing a warning about stablecoins. Michael Barr, vice chair for supervision at the Federal Reserve, told an audience at a Washington,...
July 19, 2023
Michael Barr has become the latest regulator urging caution on the use of artificial intelligence. In a speech Tuesday (July 18), Barr — the Federal Reserve’s Vice Chair for Supervision...
July 10, 2023
Banks both big and small will face tougher rules following this year’s banking crisis. That was the message from Michael Barr, the Federal Reserve’s vice chairman for supervision, in a speech Monday (July...
