Jerome H. ‘Jay’ Powell

November 2, 2017 Leadership 0

INFO, BACKGROUND ON JEROME H. 'Jay' POWELL

BIRTH DATE	February, 1953
POSITION	Chair, Federal Reserve Board (confirmed by Senate: Jan. 23, 2018); renominated for four-year term ending in 2026 (Nov. 22, 2021)
EDUCATION	A.B. (politics), Princeton University (1975) J.D., Georgetown University (1979); editor-in-chief, Georgetown Law Journal
EXPERIENCE	Government: 2012 to present: member, Federal Reserve Board September, 1990 to January, 1993: Assistant Treasury Secretary, financial institutions; Treasury Undersecretary, domestic finance Other 1979 to 1990: Dillon, Read & Co. (New York, NY; left for Treasury position as senior vice president) 1997 to 2005: Carlyle Group (partner) 2005-12: Bipartisan Policy Center (visiting scholar), Washington, D.C.

Competing proposals to change rules on Bank Control Act withdrawn after neither can win majority of FDIC Board votes

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Neither of two competing proposals for changes to the federal bank deposit insurer’s rules implementing the Bank Control Act (BCA) were adopted Thursday by the agency’s board after sponsors of the two proposals withdrew them, largely after it became apparent [...]
FDIC: Deposit Insurance Fund on track to reach statutory minimum before deadline

April 25, 2024 0

The federal bank deposit insurer’s Deposit Insurance Fund (DIF) reserve ratio grew from 1.11% June 2023 to 1.15% in December and remains on track to return to its statutory minimum of 1.35% before its statutory deadline of Sept. 30, 2028, [...]
CFPB’s consumer panel to meet May 15

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A public meeting of the Consumer Advisory Board (CAB) of the federal consumer financial protection agency is slated for May 15 from 10:30 a.m. to 1 p.m. Eastern. CAB is charged with advising and consulting with the Consumer Financial Protection [...]
Bureau asserts scrutiny of mortgage servicing fees having impact; declines in overdraft, NSF fees leveling off

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More than $120 million in junk fee refunds since August from bank account deposits has resulted in the federal consumer financial protection agency’s supervision work on the charges, the agency said in a release Wednesday. Meanwhile, the agency said, fees [...]
4 named to FDIC MDI subcommittee; panel to meet May 1

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Agencies give extension to comment period for Capitol One’s proposed purchase of Discover

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The acquisition of Discover Financial Services by a large, Virginia-based banking firm will be subject to public comment through May 31, federal banking regulators said separately Wednesday. The Federal Reserve Board and the Office of the Comptroller of the Currency [...]

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