The headlines swirl around Synapse’s bankruptcy and customers’ tales of being frozen out of their accounts. The FinTech space is always evolving, and the ongoing legal wrangling and attempts to find $85 million in account shortfalls will seemingly be long and drawn out, with no...
A top House Republican wants to overturn a recent federal regulation governing non-bank financial companies. Rep. French Hill (R-Ark.) introduced a resolution Wednesday (April 17) that would yank the approval of the Financial Stability Oversight Council (FSOC)’s guidance on non-bank financial company determinations, adopted last fall. “This guidance transforms...
American regulators approved new guidelines for monitoring financial risk following this year’s banking crisis. The U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) on Friday (Nov. 3) announced it had approved a new analytic framework for financial stability risks and updated guidance for non-bank financial company determinations process. “Financial...
FTX’s meltdown and crypto’s whipsaw gyrations continue to shake retail investors, many of whom will be wiped out. Institutional investors are shying away from the space, writing down their FTX investments to zero. Hackers have siphoned hundreds of millions of dollars from the paralyzed exchange....
November 18, 2022
FTX’s meltdown and crypto’s whipsaw gyrations continue to shake retail investors, many of whom will be wiped out. Institutional investors are shying away from the space, writing down their FTX investments to zero. Hackers have siphoned hundreds of millions of dollars from the paralyzed exchange. Rob Hunter, deputy general counsel and director of regulatory and […]
December 09, 2024
Non-bank financial institutions like pension funds, insurance companies, hedge funds and money market funds could present risks to financial stability as their role in the financial system grows, Dave Ramsden, deputy governor, markets and banking at the Bank of England, said Monday (Dec. 9). In a speech given at the Official Monetary and Financial Institutions […]
April 18, 2024
A top House Republican wants to overturn a recent federal regulation governing non-bank financial companies. Rep. French Hill (R-Ark.) introduced a resolution Wednesday (April 17) that would yank the approval of the Financial Stability...
November 05, 2023
American regulators approved new guidelines for monitoring financial risk following this year’s banking crisis. The U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) on Friday (Nov. 3) announced it had approved a new analytic...
September 11, 2019
Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. 11) about the importance of...
