A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
WASHINGTON A cybersecurity information-sharing group for the financial services industry has moved forward with a plan to create an arm dedicated to combatting threats to the largest banks.
-
If the government forces the card giant to reduce control over security gateways, firms that sell debit processing and adjacent payment tools to banks such as FIS and Fiserv could cash in.
-
The Federal Deposit Insurance Corp.'s proposed rule on brokered deposits would be a step backwards for the agency and the industry it regulates.
-
Interchange fees and financial incentives for merchants, banks and mobile wallets could come under pressure if the government forces the card brand to alter its policies.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
State Street on Wednesday appointed a new chief financial officer.
-
JPMorgan Chase's Thasunda Duckett has been named chief executive officer of consumer banking as part of one of the bank's periodic management reshufflings.
-
BNY Mellon's Karen Peetz tops the 25 Most Powerful Women in Banking list; the 25 Most Powerful Women in Finance list is led by Mary Callahan Erdoes at JPMorgan Chase; and Nandita Bakhshi at Bank of the West heads the 25 Women to Watch list.
-
Some benefits are materializing from Fannie Mae's pledge to limit servicers' exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of both GSEs remain exposed to other concerns.
-
Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.
-
Lenders implemented stricter underwriting across all loan types in the first quarter as the pandemic upended the economy, the Federal Reserve said in its survey of loan officers.
Kelly Loeffer would lead an agency that is critically important to community banks, which make tens of billions of dollars in loans annually under its largest loan program.
The House of Representatives passed a joint resolution to nullify the rule finalized by the agency last and prohibiting it from implementing similar reforms in the future. It will now go to the president's desk for his signature.
-
Increasing federal deposit insurance limits is not the answer to the banking system's woes. It would cause riskier behavior and more red tape. And it wouldn't prevent bank runs.
-
When running a bank branch, there are certain employee behaviors that must be nonnegotiable. But that still leaves plenty of room for improvisation and creativity.
-
Subjecting the Consumer Financial Protection Bureau to congressional appropriations would throw a wide range of essential regulatory activities into disarray, disrupting the industry and putting consumers at risk.
-
The agency is weighing costly infrastructure needs, fraud risks and long-term decline in check use as it solicits public input on the possibility of winding down checks following an executive order phasing out paper in federal payments.
-
The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. announced Friday that they are withdrawing from a 2013 interagency leveraged lending guidance, arguing it was overly restrictive, pushed activity to nonbanks and sidestepped official rulemaking.
-
The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.
-
The state is requiring merchants to accept cash denominations of $20 and under and prohibits them from charging extra to accept cash. The law, which goes into effect in March, comes as merchants are responding to the Trump administration's abrupt cancellation of penny production.
-
A bipartisan housing provision has emerged as a critical negotiating point for passage of an uncommonly bank-relevant defense authorization bill.
-
More than 400,000 consumers may be affected after Marquis Software Solutions suffered a breach traced to a bug in SonicWall software disclosed last year.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
The activist investor HoldCo Asset Management alleges that Comerica and Fifth Third used a "flawed" process to arrive at a $10.9 billion merger agreement. On Tuesday, a Delaware judge said she will hold a hearing to determine if the banks omitted material information in their public disclosures.
The New York Stock Exchange disclosed the news on Monday of the sudden passing of its head of International Capital Markets.
The 23rd annual ranking of women leaders in the banking industry.
-
Partner Insights from OneSpan -
Partner Insights from OneSpan - Sponsor content from Red Hat
- Partner Insights from Talkdesk
