Claire Williams

The Bank Policy Institute and the American Bankers Association asked acting Comptroller of the Currency Michael Hsu to deny Sen. Elizabeth Warren's request to rescind Trump-era cryptocurrency guidance. 

Four consumer organizations joined the Independent Community Bankers of America in opposition to the automaker's push for an industrial bank. They cited consumer privacy concerns and the risk of mixing commerce with banking.

Rep. Tom Emmer, R-Minn., said the issues raised by the sanctions affect the "right to privacy of every American citizen."

Banking trade groups are saying the Federal Deposit Insurance Corp.'s plan to increase the deposit insurance fund is poorly timed and based on flawed assumptions.

The Federal Deposit Insurance Corp. issued the letters ordering the companies to stop making false or misleading representations of deposit insurance.

Carlos Garcia of Professional Holding Corp. in Coral Gables would serve as CEO of the holding company for Nave Bank, which seeks FDIC approval to be the first federally insured digital bank in Puerto Rico.

The Federal Deposit Insurance Corp. said that multiple nonsufficient-funds fees charged on the same transaction when consumers don't have enough money in their account could violate the Federal Trade Commission Act.

As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge. 

The move is the latest development in the ongoing political clash over how involved banks should be in crypto markets. 

The Federal Deposit Insurance Corp. said its actions are "consistent with longstanding legal authorities to ensure that banks engaging in crypto-related activities are doing so in a safe and sound way that protects consumers."

The Federal Reserve Board's new guidance comes as the central bank is slated to decide whether to grant Custodia, a Cheyenne, Wyo.-based crypto firm, a master account.

The House passed the legislative package, which includes an excise tax on stock buybacks, in a 220-207 vote.

Marianne Lake, the company's co-chief executive officer of consumer and community banking, will serve a one-year term on the Federal Reserve Board's Federal Advisory Council. She represents the New York Fed.

The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.

Bank advocates say that stark government scrutiny of bank forays into digital assets has been misplaced and that if the administration would like to see responsible innovation in crypto, the banking system could be the place to do it.

Trade groups submitted a wide range of complaints to regulators throughout the Community Reinvestment Act's comment period, including concerns about the revamp's timeline and how the proposal would evaluate online banking activity.

Ford Motor Co.'s application for an industrial loan company charter with the Federal Deposit Insurance Corp. will compel the regulator to articulate its stance on future applications.

Banks and consumers can be harmed when cryptocurrency companies that offer digital assets as well as banks’ deposit products overstate the protections of federal deposit insurance, the agency says.

The Federal Reserve and Federal Deposit Insurance Corp. said the crypto firm’s response doesn’t “preclude us from taking any further action.” 

Critics of the council say it hasn’t been as effective as it could be, but Treasury’s Nellie Liang said in an interview that right now it is “in a good place.”