Banking Regulation news and trends

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...

Battle Lines Being Drawn as FDIC Examines Industrial Loan Companies
Bank Regulation // October 09, 2024

A relatively obscure corner of the banking sector is being thrust into the spotlight — and the Federal Deposit Insurance Corp. may change the ways in which industrial loan companies operate. In doing so, it may be the case that nonbanks, including FinTechs and especially retailers,...

Regulatory Backlash Against Chatbots Comes as Banks Find Value in Their Use
artificial intelligence // August 14, 2024

For banks, the chatbot is a tool that’s being retooled, a work in progress. The progress is being hastened by artificial intelligence (AI), where the digital customer assistants are used, and have long been used, to help consumers access a variety of data and transaction...

Cable and Vantage Bank Team on Embedded Banking Compliance
Partnerships // July 29, 2024

Risk management platform Cable has launched a partnership with Texas-based Vantage Bank. The collaboration, announced Monday (July 29), is designed to help Vantage improve its compliance and risk management as it expands its FinTech program and partnerships. “Embedded banking is under intense scrutiny from regulators,”...

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
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 Bureau (CFPB) after the regulator found that the financial institution had charged members illegal overdraft fees. According to the CFPB, those fees — collected between […]

Elizabeth Warren: TD Bank Execs Should Have Been Prosecuted

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...

Cable and Vantage Bank Team on Embedded Banking Compliance

July 29, 2024
Risk management platform Cable has launched a partnership with Texas-based Vantage Bank. The collaboration, announced Monday (July 29), is designed to help Vantage improve its compliance and risk management as...

Australian Banking Association: Open Banking Rules Need ‘New Pathway Forward’

July 08, 2024
Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules. Bligh said this in a...