The American Bankers Association (ABA) said the proposed amendments to Regulation II that would cap debit card interchange fees are “fundamentally flawed and should not be finalized.” In a Thursday (Dec. 12) letter addressed to Federal Reserve Board Chair Jerome H. Powell, ABA Senior Vice...
The Federal Reserve Board said Thursday (Nov. 21) that it prohibited Shan Hanes, a former CEO of Heartland Tri-State Bank who was convicted of embezzlement, from future participation in the banking industry. Hanes embezzled $47.1 million of bank funds, which led to the bank becoming...
Among the central debates of regulation, what we might term even the jurisdiction of the regulators — no matter the industry — might boil down to a stark question: States versus federal — as in should the states be the mainstays in regulating banks and...
Washington-based UniBank and its parent company U&I Financial have agreed to measures to be taken under an enforcement action issued Thursday (Oct. 24) by the Federal Reserve Board. The Washington Department of Financial Institutions (WDFI) also agreed to these measures. The enforcement action follows the...
November 01, 2024
Among the central debates of regulation, what we might term even the jurisdiction of the regulators — no matter the industry — might boil down to a stark question: States versus federal — as in should the states be the mainstays in regulating banks and FinTechs as they continue to pair up and deliver digital […]
June 19, 2017
Real time payments, as a concept, has been around for a while. What will it take to make the concept a reality? In our latest Topic TBD, Cheryl Gurz, global...
December 19, 2024
The Federal Reserve Board has announced an enforcement action against Franklin, Tennessee-based Lineage Financial Network, the bank holding company of Lineage Bank. The Fed said in a Thursday (Dec. 19) press release that the Federal Deposit Insurance Corporation (FDIC) separately issued an enforcement action with Lineage Bank in January and that the Fed’s enforcement action is independent of the […]
December 16, 2024
The American Bankers Association (ABA) said the proposed amendments to Regulation II that would cap debit card interchange fees are “fundamentally flawed and should not be finalized.” In a Thursday...
November 21, 2024
The Federal Reserve Board said Thursday (Nov. 21) that it prohibited Shan Hanes, a former CEO of Heartland Tri-State Bank who was convicted of embezzlement, from future participation in the...
October 24, 2024
Washington-based UniBank and its parent company U&I Financial have agreed to measures to be taken under an enforcement action issued Thursday (Oct. 24) by the Federal Reserve Board. The Washington...
