bank regulation

OCC: Banks Unprepared for Cyberattacks and Other Risks
OCC: Banks Unprepared for Cyberattacks and Other Risks
July 21, 2024  |  Banking

A U.S. banking regulator has reportedly determined that many lenders aren’t prepared for risks. As Bloomberg News reported Sunday (July 21), a confidential assessment by...

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Congresswoman Waters Urges Regulators to Reject Capital One-Discover Merger
Congresswoman Waters Urges Regulators to Reject Capital One-Discover Merger
July 19, 2024  |  Acquisitions

Congresswoman Maxine Waters (D-Calif.) reiterated her opposition to the proposed Capital One–Discover merger. Waters, the top Democrat on the House Financial Services Committee (HFSC), testified...

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UK’s FCA: Financial Firms Must Improve Treatment of Politicians
UK’s FCA: Financial Firms Must Improve Treatment of Politicians
July 18, 2024  |  Regulation

The United Kingdom’s Financial Conduct Authority (FCA) is looking to change its guidance to ensure that financial firms do not treat politicians and public servants...

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Will Supreme Court Rulings Keep Federal Regulators in Court?
Will Supreme Court Rulings Keep Federal Regulators in Court?
July 17, 2024  |  Legal

When the U.S. Supreme Court overturned its own 40-year-old ruling in the LoperBright Enterprises v. Raimondo case on June 28 — in what has come...

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ECB Official Says Unregulated Banking Could Threaten Financial Stability
ECB Official Says Unregulated Banking Could Threaten Financial Stability
July 10, 2024  |  Banking

A European Central Bank board member is warning of threats tied to shadow banking. In an interview with the Financial Times published Wednesday (July 10), Elizabeth McCaul said the growth of...

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Regulators Wary of Banks Outsourcing to Tech Firms
Regulators Wary of Banks Outsourcing to Tech Firms
July 09, 2024  |  Bank Regulation

A top global banking regulator wants financial institutions to take more responsibility in outsourcing services. “Ongoing digitalisation has led to rapid adoption of innovative approaches...

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DEA: Drug Traffickers Found Citi ‘Favorable’ for Money Laundering
DEA: Drug Traffickers Found Citi ‘Favorable’ for Money Laundering
July 01, 2024  |  AML

Federal investigators say drug traffickers laundered money through Citigroup, believing it had looser fraud measures. As the Financial Times (FT) reported Monday (July 1), a...

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FDIC’s Resolution Rule Spotlights Specter of Large Bank Failures and Megamergers
FDIC’s Resolution Rule Spotlights Specter of Large Bank Failures and Megamergers
June 21, 2024  |  Bank Regulation

Last year marked a seismic shift in financial services — as five bank failures tested the ways and means at the disposal of government and...

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Nonbanks, Systemic Risks Highlight Need for ‘Know Your Business’ Due Diligence
Nonbanks, Systemic Risks Highlight Need for ‘Know Your Business’ Due Diligence
June 20, 2024  |  Authentication

For banks, forging partnerships with nonbanks and FinTechs has been a key way to capitalize on growth opportunities in private credit. But the increasing connectedness...

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