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The credit-reporting agency was fined $650,000 for sending customers marketing emails without an option to unsubscribe. Financial institutions are subject to the same law, called the CAN-SPAM Act.
August 15 -
The SEC and CFTC charged 11 Wall Street firms $549 million in penalties over recordkeeping violations. The agencies vow to continue enforcing compliance throughout the industry.
August 15 -
Community bankers anticipate that interest rates could soon level off and the broader economy may avert a downturn as a result. If that forecast proves true, lenders could minimize credit losses and enjoy stronger loan demand than they had expected earlier in the year.
August 15 -
Forthcoming regulations to strengthen capital buffers and resolution processes for large regional banks are sparking debate about those proposals' efficacy and compounding existing problems for regional banks around stability and funding costs.
August 15 -
The bankrupt former parent of Silicon Valley Bank is losing $9 million a month in interest on deposits that were trapped when federal regulators took over the failed bank.
August 15 -
The Basel III: Endgame proposal, as well as forthcoming proposals on living wills, uninsured deposits and long-term debt are coming as banks' interest rate margins are getting slimmer, loan demand is weakening and bank credit seems headed for a downgrade. That's a lot of headwinds for the banking industry.
August 15American Banker -
President and COO Dave Glaser discusses his company's strategy as demand builds for services that could stress older systems.
August 15 -
The verdict ends a decade-long lawsuit over the Federal Housing Finance Agency's amendment to a stock repurchase agreement in 2012.
August 15 -
Under the proposal being considered by the agency, recipients of public benefits would be unable to enjoy the same access to their financial data given to other citizens.
August 15University of Pennsylvania's Wharton School -
The Consumer Financial Protection Bureau plans to propose rules to require that data brokers comply with the Fair Credit Reporting Act to limit data from being sold for any reason other than what Congress has specified as having a "permissible purpose," such as credit underwriting.
August 15