Banking Regulation news and trends

Barclays Calls on Ex-CEO to Fight $50 Million UK Fine
Legal // November 24, 2024

Barclays has reportedly asked ex-CEO John Varley to help it challenge a $50 million fine. The British banking giant will appear before the upper tribunal in London this week, challenging the fine over an emergency fundraising with investors from Qatar at the height of the...

McHenry: Banking Regulators Stuck ‘Fighting the Last War’
Bank Regulation // November 20, 2024

By this time next year, America’s banking regulators will likely have new leadership. At a hearing Wednesday (Nov. 20) Rep. Patrick McHenry took the outgoing regulators to task. McHenry, the North Carolina Republican who serves as chair of the House Financial Services Committee accused officials...

CFPB: Navy Federal CU Fined $95 Million for Alleged Illegal Overdraft Fees
Bank Regulation // November 07, 2024

The government has ordered America’s largest credit union to repay its customers $80 million. Navy Federal Credit Union was issued that order Thursday (Nov. 7) by the Consumer Financial Protection Bureau (CFPB) after the regulator found that the financial institution had charged members illegal overdraft...

Elizabeth Warren: TD Bank Execs Should Have Been Prosecuted
AML // November 03, 2024

Last month, the Justice Department settled an anti-money laundering probe into TD Bank. But according to U.S. Sen. Elizabeth Warren, D-Mass., the $3 billion the government received from the Canadian lender was not enough. As The Wall Street Journal (WSJ) reported last week, Warren said...

Interviews & Exclusives
Thread Bank Responds to FDIC Enforcement Action

July 01, 2024
2024 is fast becoming the summer of consent orders for smaller banks. That’s because, with the news Friday (June 28) that Tennessee-based Thread Bancorp is now the latest financial institution (FI) to come under the Federal Deposit Insurance Corporation’s (FDIC) scrutiny, managing for the operational, compliance and strategic risks that come with third-party tie-ups is […]

Credit Unions Keep Open Dialogue With Lawmakers in Wake of Banking Turmoil

May 01, 2023
The suddenness of the Silicon Valley Bank collapse shocked the venture capital and technology communities. When the bank’s massive investment losses caused a significant swath of depositors to withdraw their...

Inside the Upside of India’s New Bundled, Cross-Border Remittance System

September 09, 2022
In India, a broadening by the Reserve Bank of India (RBI) of the ways and means through which citizens can send money abroad will open the floodgates to FinTechs and...

Can A Single App Promote Better SMB Cash Flow?

September 11, 2019
Europe’s revised Payment Services Directive, or PSD2, is among the regulations designed to increase innovation when it comes to digital transactions of all types. According to a new PYMNTS interview...

Quick Reads
Trump Considering ‘Pretty Significant’ Changes to CFPB

November 24, 2024
President-elect Donald Trump and congressional Republicans are reportedly considering sweeping changes to the Consumer Financial Protection Bureau (CFPB). The GOP hopes to curtail the powers and funding of the CFPB, the Washington Post reported Sunday (Nov. 25), putting them in the same camp with banks, credit card and mortgage lenders and other big financial companies. […]

Barclays Calls on Ex-CEO to Fight $50 Million UK Fine

November 24, 2024
Barclays has reportedly asked ex-CEO John Varley to help it challenge a $50 million fine. The British banking giant will appear before the upper tribunal in London this week, challenging...

McHenry: Banking Regulators Stuck ‘Fighting the Last War’

November 20, 2024
By this time next year, America’s banking regulators will likely have new leadership. At a hearing Wednesday (Nov. 20) Rep. Patrick McHenry took the outgoing regulators to task. McHenry, the...

CFPB: Navy Federal CU Fined $95 Million for Alleged Illegal Overdraft Fees

November 07, 2024
The government has ordered America’s largest credit union to repay its customers $80 million. Navy Federal Credit Union was issued that order Thursday (Nov. 7) by the Consumer Financial Protection...