The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB) move may have a series of negative ripple effects for those same consumers, as banks consider offsetting the impact of...
Wells Fargo’s CEO reportedly has more confidence in his bank’s efforts to remedy its compliance issues. Charlie Scharf’s comments, as reported Wednesday (Dec. 11) by Reuters, follow the banking giant’s years-long fake account scandal. “For every one of our consent orders that we have, for...
America’s banking regulator says that it’s costing more to supervise the country’s largest financial institutions. As such, the Office of the Comptroller of the Currency (OCC) announced Wednesday (Nov. 27) that it was hiking its assessment rates for 2025. The increases are chiefly for larger...
House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee – issued a letter Thursday (Oct. 31) to regulators at the Federal Reserve Board, Office of the Comptroller of the...
December 12, 2024
The new (and reportedly final) rule on overdraft fees may have consumer groups — and consumers — cheering. But the Consumer Financial Protection Bureau’s (CFPB) move may have a series of negative ripple effects for those same consumers, as banks consider offsetting the impact of new regulations, which among other things, caps the fees at […]
August 12, 2024
Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers Bank, one of the only...
September 13, 2021
Digital transactions are quickly becoming the norm, with trillions of dollars crisscrossing the globe via the internet. Securing this fast-growing market is the EU’s Revised Payment Services Directive (PSD2) objective,...
December 15, 2024
Treasury Secretary Janet Yellen says the next administration should leave “critically important” financial regulations untouched. In an interview with Reuters on Friday (Dec. 13), Yellen said these regulations govern things like banks’ capital levels, liquidity and risk-taking. She said the current system has its flaws and the incoming Trump administration would have cause to seek […]
December 11, 2024
Wells Fargo’s CEO reportedly has more confidence in his bank’s efforts to remedy its compliance issues. Charlie Scharf’s comments, as reported Wednesday (Dec. 11) by Reuters, follow the banking giant’s...
November 27, 2024
America’s banking regulator says that it’s costing more to supervise the country’s largest financial institutions. As such, the Office of the Comptroller of the Currency (OCC) announced Wednesday (Nov. 27)...
October 31, 2024
House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee – issued a letter Thursday...
