The Monetary Authority of Singapore (MAS) said on Tuesday (April 7) that it will allow banks more leeway with regulatory requirements and programs so that financial institutions (FIs) can do more to boost business during the coronavirus crisis. Get the Full Story Complete the form...
In Egypt, banks have been told to impose a limit on cash withdrawals and deposits in a move to hopefully stop hoarding and inflation. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
The Federal Deposit Insurance Corporation (FDIC) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The U.S. Federal Reserve has announced that it’s prepared to use its “full range of tools” to help households and businesses and stay on top of employment and price stability targets during the coronavirus crisis, according to a release. Get the Full Story Complete the...
The recent resignations of Wells Fargo board Chairman Elizabeth Duke and board member James Quigley drew criticism by Congress during the first hearing on Capitol Hill on Wednesday (March 11) about the bank’s fake accounts scandal, Bloomberg reported. Get the Full Story Complete the form...
Wells Fargo Board of Directors Chair Elizabeth Duke has resigned days before she was scheduled to testify at a congressional hearing about the bank, according to reports on Monday (March 9). Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Fifth Third Bank said it’s facing enforcement action from the Consumer Financial Protection Bureau (CFPB) over alleged openings of unauthorized accounts. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Wells Fargo agreed to pay $3 billion as a settlement with regulators over a scandal involving the creation of fake accounts, according to a report by The Wall Street Journal. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
At a Wednesday (Feb. 5) hearing before the House Financial Services Committee, representatives from several consumer groups said “rent-a-bank” schemes harm consumers through predatory lending. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
