For the banks, the urge to merge may get held up by regulators — who’d formerly been using decades-old guidelines by which to judge the merits of those deals. And to steal a line from Prince (at least a bit): No one’s going to party...
The ties that bind banks and FinTechs will be more closely watched by the Federal Deposit Insurance Corporation (FDIC), and a formal proposal/rule from the regulatory agency, governing accounts in banking-as-a-service relationships, may come sooner rather than later. As reported this week by news outlets...
Last year marked a seismic shift in financial services — as five bank failures tested the ways and means at the disposal of government and industry to prevent wider contagion. Silicon Valley Bank, of course, was the arguably the headliner, representing the second largest bank...
Federal Reserve Chair Jerome Powell announced in a Senate Banking Committee hearing on Thursday (June 22) that smaller banks with assets below $100 billion will not be affected by expected new rules requiring banks to keep more capital in the wake of bank collapses in March....
March 27, 2023
It’s common practice on Capitol Hill for witnesses — appearing before various committees — to release their testimony ahead of time. And what’s written down sets the tone for the conversation and the questioning that’s sure to follow. Ahead of his appearance before the Senate Banking Committee, slated to focus Tuesday on Silicon Valley Bank […]
November 19, 2024
Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg will step down from that post and from his seat on the board of directors the day before the inauguration of President-elect Donald Trump. Gruenberg told President Joe Biden Tuesday (Nov. 19) that he will retire from those positions effective Jan. 19, 2025, according to a message […]
June 22, 2023
Federal Reserve Chair Jerome Powell announced in a Senate Banking Committee hearing on Thursday (June 22) that smaller banks with assets below $100 billion will not be affected by expected new...
March 28, 2023
Possible future banking regulations came to light during a Senate committee hearing. The proposals were mentioned by Federal Reserve Vice Chair for Supervision Michael Barr and Federal Deposit Insurance Corp. (FDIC)...
March 27, 2023
America’s banking regulator is investigating the recent collapse of two lenders. Martin Gruenberg, chairman of the Federal Deposit Insurance Corp. (FDIC), says his agency is looking into how and why...
