Jeremy Kress
@jeremykress.bsky.social
Associate Professor of Business Law, University of Michigan Ross School of Business. Views my own.
I've requested the extension of three comment periods this year, and the banking agencies have rejected me every time.
Now bank lobbyists request the extension of the comment period to further water down the stress tests, and they get all the time they asked for. 🫠
Now bank lobbyists request the extension of the comment period to further water down the stress tests, and they get all the time they asked for. 🫠
November 21, 2025 at 6:52 PM
I've requested the extension of three comment periods this year, and the banking agencies have rejected me every time.
Now bank lobbyists request the extension of the comment period to further water down the stress tests, and they get all the time they asked for. 🫠
Now bank lobbyists request the extension of the comment period to further water down the stress tests, and they get all the time they asked for. 🫠
Lol, Bowman literally touted the Fed's transparency in the press release!
November 18, 2025 at 3:05 PM
Lol, Bowman literally touted the Fed's transparency in the press release!
Inexplicable that Lisa Cook continues to support harmful bank deregulation by the administration that's trying to illegally fire her. SMDH.
www.federalreserve.gov/aboutthefed/...
www.federalreserve.gov/aboutthefed/...
October 24, 2025 at 7:32 PM
Inexplicable that Lisa Cook continues to support harmful bank deregulation by the administration that's trying to illegally fire her. SMDH.
www.federalreserve.gov/aboutthefed/...
www.federalreserve.gov/aboutthefed/...
Reminds me of a cartoon a colleague once taped to my door.
October 24, 2025 at 1:38 PM
Reminds me of a cartoon a colleague once taped to my door.
Earlier this year, JPMorgan refused to comply with new nonbank lending disclosure requirements [left].
Today, JPMorgan attributed recent turmoil in bank stocks to "very poor" nonbank lending disclosure [right].
🫠
Today, JPMorgan attributed recent turmoil in bank stocks to "very poor" nonbank lending disclosure [right].
🫠
October 20, 2025 at 2:48 PM
Earlier this year, JPMorgan refused to comply with new nonbank lending disclosure requirements [left].
Today, JPMorgan attributed recent turmoil in bank stocks to "very poor" nonbank lending disclosure [right].
🫠
Today, JPMorgan attributed recent turmoil in bank stocks to "very poor" nonbank lending disclosure [right].
🫠
Today, the FSOC cut its own budget by >30%.
The FSOC is funded through fees paid by large financial institutions, so this saves taxpayers $0.
home.treasury.gov/policy-issue...
The FSOC is funded through fees paid by large financial institutions, so this saves taxpayers $0.
home.treasury.gov/policy-issue...
September 10, 2025 at 10:41 PM
Today, the FSOC cut its own budget by >30%.
The FSOC is funded through fees paid by large financial institutions, so this saves taxpayers $0.
home.treasury.gov/policy-issue...
The FSOC is funded through fees paid by large financial institutions, so this saves taxpayers $0.
home.treasury.gov/policy-issue...
Judge to Trump: Either prosecute and convict Gov. Cook or GTFO.
September 10, 2025 at 2:30 AM
Judge to Trump: Either prosecute and convict Gov. Cook or GTFO.
By my count, a solid majority of the comment letters on the banking agencies' supplementary leverage ratio proposal oppose the rule.
Definitely inconsistent with Powell's standard that final rules should have "broad support among the broader community of commenters on all sides."
Definitely inconsistent with Powell's standard that final rules should have "broad support among the broader community of commenters on all sides."
August 27, 2025 at 7:11 PM
By my count, a solid majority of the comment letters on the banking agencies' supplementary leverage ratio proposal oppose the rule.
Definitely inconsistent with Powell's standard that final rules should have "broad support among the broader community of commenters on all sides."
Definitely inconsistent with Powell's standard that final rules should have "broad support among the broader community of commenters on all sides."
This week's grumpy comment letter is a big one: the enhanced supplementary leverage ratio.
Regulators want to cut big-bank capital requirements by $213B.
Decades from now, when we look back at all of Trump's bad banking rules, decent chance this one stands out as the worst.
Regulators want to cut big-bank capital requirements by $213B.
Decades from now, when we look back at all of Trump's bad banking rules, decent chance this one stands out as the worst.
August 20, 2025 at 3:39 PM
This week's grumpy comment letter is a big one: the enhanced supplementary leverage ratio.
Regulators want to cut big-bank capital requirements by $213B.
Decades from now, when we look back at all of Trump's bad banking rules, decent chance this one stands out as the worst.
Regulators want to cut big-bank capital requirements by $213B.
Decades from now, when we look back at all of Trump's bad banking rules, decent chance this one stands out as the worst.
Killer kicker in this article:
August 20, 2025 at 2:56 PM
Killer kicker in this article:
Brad Lipton and @srf1802.bsky.social just wrote a really important piece about the weaponization of standing and venue that everyone should read.
I think I strained a muscle from rolling my eyes so hard after reading this quote.
www.californialawreview.org/online/rigge...
I think I strained a muscle from rolling my eyes so hard after reading this quote.
www.californialawreview.org/online/rigge...
August 18, 2025 at 7:24 PM
Brad Lipton and @srf1802.bsky.social just wrote a really important piece about the weaponization of standing and venue that everyone should read.
I think I strained a muscle from rolling my eyes so hard after reading this quote.
www.californialawreview.org/online/rigge...
I think I strained a muscle from rolling my eyes so hard after reading this quote.
www.californialawreview.org/online/rigge...
The Fed proposed another bad rule, so I wrote another grumpy comment letter.
Here’s my latest on the Fed’s grade inflation plan for big-bank supervisory ratings.
Here’s my latest on the Fed’s grade inflation plan for big-bank supervisory ratings.
August 11, 2025 at 4:47 PM
The Fed proposed another bad rule, so I wrote another grumpy comment letter.
Here’s my latest on the Fed’s grade inflation plan for big-bank supervisory ratings.
Here’s my latest on the Fed’s grade inflation plan for big-bank supervisory ratings.
I don’t doubt VCS Bowman’s commitment to community banking issues.
But I call BS on her claim that the Fed is “prioritizing” them. Her rule proposals to date - e.g., weakening the SLR and LFI ratings - only benefit the very largest banks and exacerbate an unlevel playing field.
But I call BS on her claim that the Fed is “prioritizing” them. Her rule proposals to date - e.g., weakening the SLR and LFI ratings - only benefit the very largest banks and exacerbate an unlevel playing field.
August 9, 2025 at 7:37 PM
I don’t doubt VCS Bowman’s commitment to community banking issues.
But I call BS on her claim that the Fed is “prioritizing” them. Her rule proposals to date - e.g., weakening the SLR and LFI ratings - only benefit the very largest banks and exacerbate an unlevel playing field.
But I call BS on her claim that the Fed is “prioritizing” them. Her rule proposals to date - e.g., weakening the SLR and LFI ratings - only benefit the very largest banks and exacerbate an unlevel playing field.
I am by no means a Powell supporter, but this manufactured controversy over renovations is absurd.
Powell won't benefit from renovating Eccles - he'll likely be gone before it's finished. If anything, moving to temporary space during construction has inconvenienced him.
Powell won't benefit from renovating Eccles - he'll likely be gone before it's finished. If anything, moving to temporary space during construction has inconvenienced him.
July 16, 2025 at 3:15 PM
I am by no means a Powell supporter, but this manufactured controversy over renovations is absurd.
Powell won't benefit from renovating Eccles - he'll likely be gone before it's finished. If anything, moving to temporary space during construction has inconvenienced him.
Powell won't benefit from renovating Eccles - he'll likely be gone before it's finished. If anything, moving to temporary space during construction has inconvenienced him.
I am no Powell defender, and the renovation controversy is pretty clearly manufactured faux outrage.
In any event, even if there were legit questions about mismanagement, shouldn’t they be directed in the first instance to Phillip Jefferson, oversight Governor for the Fed’s COO?
In any event, even if there were legit questions about mismanagement, shouldn’t they be directed in the first instance to Phillip Jefferson, oversight Governor for the Fed’s COO?
July 12, 2025 at 2:59 PM
I am no Powell defender, and the renovation controversy is pretty clearly manufactured faux outrage.
In any event, even if there were legit questions about mismanagement, shouldn’t they be directed in the first instance to Phillip Jefferson, oversight Governor for the Fed’s COO?
In any event, even if there were legit questions about mismanagement, shouldn’t they be directed in the first instance to Phillip Jefferson, oversight Governor for the Fed’s COO?
Governor Barr's dissent correctly notes that today's proposal to weaken the supervisory ratings framework is blatantly inconsistent with the law.
The majority, of course, does not seem to care.
www.federalreserve.gov/newsevents/p...
The majority, of course, does not seem to care.
www.federalreserve.gov/newsevents/p...
July 10, 2025 at 7:12 PM
Governor Barr's dissent correctly notes that today's proposal to weaken the supervisory ratings framework is blatantly inconsistent with the law.
The majority, of course, does not seem to care.
www.federalreserve.gov/newsevents/p...
The majority, of course, does not seem to care.
www.federalreserve.gov/newsevents/p...
Big banks are trying to improve their image by … [checks notes] … hiring an oil lobbyist. 🧐
July 10, 2025 at 12:15 AM
Big banks are trying to improve their image by … [checks notes] … hiring an oil lobbyist. 🧐
I just started a sabbatical, so if the banking agencies keep proposing bad rules, I have all the time in the world to keep filing strongly worded comment letters.
Here’s my latest on the Fed’s stress test proposal.
Here’s my latest on the Fed’s stress test proposal.
June 23, 2025 at 1:18 PM
I just started a sabbatical, so if the banking agencies keep proposing bad rules, I have all the time in the world to keep filing strongly worded comment letters.
Here’s my latest on the Fed’s stress test proposal.
Here’s my latest on the Fed’s stress test proposal.
This provision of the Federal Reserve Act suggests "no," the President cannot also serve on the Fed Board.
But it would be fun to see him testify before Congress twice a year for Humphrey-Hawkins!
But it would be fun to see him testify before Congress twice a year for Humphrey-Hawkins!
June 18, 2025 at 3:25 PM
This provision of the Federal Reserve Act suggests "no," the President cannot also serve on the Fed Board.
But it would be fun to see him testify before Congress twice a year for Humphrey-Hawkins!
But it would be fun to see him testify before Congress twice a year for Humphrey-Hawkins!
I submitted a bitchy comment letter objecting to the OCC's lawless abuse of the APA's interim final rule mechanism:
"Apparently, administrative law is sacred when it protects bank profits but disposable when it might threaten them."
"Apparently, administrative law is sacred when it protects bank profits but disposable when it might threaten them."
June 13, 2025 at 4:16 PM
I submitted a bitchy comment letter objecting to the OCC's lawless abuse of the APA's interim final rule mechanism:
"Apparently, administrative law is sacred when it protects bank profits but disposable when it might threaten them."
"Apparently, administrative law is sacred when it protects bank profits but disposable when it might threaten them."
Look what arrived in the mail today! 👀
Can’t wait to celebrate the official launch of Peter Conti-Brown’s and @seanvanatta.bsky.social’s terrific new book tomorrow at Brookings!
Can’t wait to celebrate the official launch of Peter Conti-Brown’s and @seanvanatta.bsky.social’s terrific new book tomorrow at Brookings!
June 9, 2025 at 8:41 PM
Look what arrived in the mail today! 👀
Can’t wait to celebrate the official launch of Peter Conti-Brown’s and @seanvanatta.bsky.social’s terrific new book tomorrow at Brookings!
Can’t wait to celebrate the official launch of Peter Conti-Brown’s and @seanvanatta.bsky.social’s terrific new book tomorrow at Brookings!
After two years of insisting that the U.S. need not adopt Basel capital standards, bank lobbyists now say that aligning with international standards is good, actually.
I wonder what changed? 🤔
I wonder what changed? 🤔
May 15, 2025 at 10:40 AM
After two years of insisting that the U.S. need not adopt Basel capital standards, bank lobbyists now say that aligning with international standards is good, actually.
I wonder what changed? 🤔
I wonder what changed? 🤔
Certainly seems like these news stories from today could be related. 🤔
May 2, 2025 at 10:57 PM
Certainly seems like these news stories from today could be related. 🤔
I am still pissed off about the Capital One-Discover merger. 😡
Via Capitol Account:
Via Capitol Account:
April 25, 2025 at 6:09 PM
I am still pissed off about the Capital One-Discover merger. 😡
Via Capitol Account:
Via Capitol Account:
The Fed continues to vaguely gesture at changes in administrative law to justify weakening its post-2008 safeguards, including the stress test.
Nowhere in yesterday's NPR did the Fed explain what admin law changes it's referring to, or why they necessitate averaging stress test results.
Nowhere in yesterday's NPR did the Fed explain what admin law changes it's referring to, or why they necessitate averaging stress test results.
April 18, 2025 at 3:10 PM
The Fed continues to vaguely gesture at changes in administrative law to justify weakening its post-2008 safeguards, including the stress test.
Nowhere in yesterday's NPR did the Fed explain what admin law changes it's referring to, or why they necessitate averaging stress test results.
Nowhere in yesterday's NPR did the Fed explain what admin law changes it's referring to, or why they necessitate averaging stress test results.