Earlier this month, NACHA–The Electronic Payments Association sent its Government Relations Advisory Group on its annual pilgrimage to Capitol Hill. The purpose of Capitol Hill Day is to provide updates and continued education to Congressional representatives and staff regarding the ACH Network, payments, and the...
Out with the Wells Fargo directors. That’s a call being made by Massachusetts Sen. Elizabeth Warren, who on Monday said Federal Reserve Chairwoman Janet Yellen should remove the dozen executives sitting on the board of the beleaguered bank. Those individuals were at the helm of...
Dodd-Frank era reforms may get further pushback in the wake of a new Treasury report, even as the CFPB, in that report’s cross-hairs, keeps on chuggin’ when it comes to prepaid card regulation. Technology may be elementary to tracking regulations, Watson.
Big picture thinking dominated news surrounding financial services and payments regulations this past week. In the U.K., a contentious election brought “hard” and “soft” Brexit into question, while Dodd-Frank got a vote down by the United States House of Representatives — and next stop, the Senate....
In the halls of Congress and in the halls of Wall Street it wasn’t all about Comey Thursday. The House of Representatives approved a bill (helmed by Republican Rep. Jeb Hensarling) aimed at reversing, at least in part, Dodd-Frank, the post-financial crisis legislation that instituted...
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon will not be stepping down from the president’s Strategic and Policy Forum, despite criticism of his alleged support for President Donald Trump. “I would try to help any president of the United States, because I’m a...
The saga continues for Wells Fargo, as plaintiff lawyers in its fraudulent case up the fictitious accounts opened number. Lawyers for the plaintiff side are projecting that Wells Fargo employees opened up approximately 3.5 million accounts without customer consent. In this $142 million settlement lawsuit,...
The fallout from last year’s Wells Fargo scandal continues. Most recently, Wells’ CEO Tim Sloan looked to persuade investors to not expel board members at the lender’s upcoming annual meeting. “It would be a shame if any one of our directors didn’t receive an overwhelming...
In the continuing faceoff between the Trump administration and the Consumer Financial Protection Bureau (CFPB), the American Banker stated that President Donald Trump “deeply impressed” a group of community bankers at a Thursday meeting. That impression apparently came amid a give-and-take session where the president...
