The Basel III Endgame proposal requires “broad and material changes,” and a re-proposal is necessary, Federal Deposit Insurance Corp. (FDIC) Vice Chairman Travis Hill said Wednesday (July 24). Speaking at an American Enterprise Institute event covering bank regulatory and resolution issues, Hill said that the...
Enforcement actions and fines from regulators — the Federal Reserve, the Office of the Comptroller of the Currency and others — highlight the growing scrutiny on anti-money laundering (AML) efforts. And where these firms, banks and FinTechs among them, are deemed to come up short,...
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 the Office of the Comptroller of the Currency (OCC) said 11 of the 22 large banks it oversees have “insufficient”...
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 against the proposed merger Friday (July 19) during a virtual meeting convened by the Federal Reserve and the Office of...
July 17, 2024
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 to being popularly tagged SCOTUS v. Chevron — the reaction was split. On one hand, some politicians and legal experts were outraged that an activist court attacked what it saw […]
June 17, 2024
The Federal Reserve Board issued a “cease and desist” order against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, that may have a chilling effect on bank-FinTech partnerships. In addition...
May 23, 2024
The Federal Reserve’s proposal to lower debit interchange fee caps has drawn a flurry of responses — roughly 2,500 responses, in fact — from trade organizations representing merchants and financial...
April 09, 2024
The B2B landscape is built atop trusted relationships, both formal and informal. These relationships can include partnerships and collaborations with third-party vendors, suppliers, contractors, service providers and more; and while...
July 25, 2024
Four major U.K. banks have been accused of violating a regulator’s competition rules. The Competition and Markets Authority (CMA) says HSBC, Lloyds, TSB and AIB all breached a 2017 order created in response to competition concerns in the retail banking sector. The order requires banks to follow strict rules for informing customers about products and services, including accurately displaying interest rates for loans […]
July 24, 2024
The Basel III Endgame proposal requires “broad and material changes,” and a re-proposal is necessary, Federal Deposit Insurance Corp. (FDIC) Vice Chairman Travis Hill said Wednesday (July 24). Speaking at...
July 21, 2024
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 the Office of the Comptroller...
July 19, 2024
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 against the proposed merger Friday...
