Ebrima Santos Sanneh

Two recent Supreme Court rulings, Loper Bright and Cantero, are likely to upend the Office of the Comptroller of the Currency's long-standing approach to federal preemption of state banking laws, experts say.

Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.

Federal Deposit Insurance Corp. Board Members Jonathan McKernan and Rohit Chopra agreed on the value of clearer bank-fintech guidance to enhance regulatory clarity, foster innovation and ensure fair competition in the financial services sector.

Republican lawmakers want the Treasury secretary to extend the deadline for U.S. businesses to submit beneficial ownership information to the agency's Financial Crimes Enforcement Network. She emphasized that the agency is focused on penalizing willful non-compliance rather than enforcing 'gotcha' penalties against small businesses.

The agency has proposed a rule that would give it and the Committee on Foreign Investment in the United States broader authority over real estate transactions near military installations in 30 states.

A pair of rulings upended the deference afforded to agency interpretations of the law and extended the statute of limitations to bring regulatory challenges. But experts say the impact on banking regulation will likely be limited.

Banking experts are divided on how regulators will reshape the capital overhaul and if reported revisions being floated by regulators will meet the banking industry's demands.

The Treasury Department's Financial Crimes Enforcement Network issued a proposal mandating banks enhance their anti-money-laundering and counterterrorism financing programs, including measures to address fentanyl trafficking and Russian money laundering.

General Motors' financial arm has halted its quest for an industrial loan company charter from the FDIC, but is signaling that it will try again. Observers said the automaker may wait until after the presidential election to decide how to move forward.

The chief compliance officer and general counsel at Bluevine is one of American Banker's 2024 Most Influential Women in Fintech.

The co-founder and CEO of Clair is one of American Banker's Innovators of the Year.

The founder and CEO of Plinqit is one of American Banker's Innovators of the Year.

The FDIC board Thursday approved stricter resolution plans for larger banks and introduced a new bipartisan procedure to expedite merger application reviews.

The Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued proposals to update their bank merger review guidelines, but public comments reflect radically different attitudes from stakeholders about how high the bar to mergers should be.

Heightened regulatory scrutiny following Synapse Financial's bankruptcy will likely lead to stricter regulatory oversight of fintech-bank partnerships, potentially putting a damper on those collaborations in general, and Banking-as-a-Service offerings in particular.

President Joe Biden also nominated fellow Commodity Futures Trade Commission board member Kristin Johnson to a top bank regulatory post at the Treasury Department.

A House Financial Services Committee's hearing on workplace misconduct at the Federal Deposit Insurance Corp. Wednesday offered Republicans an opportunity to call for FDIC Chair Martin Gruenberg's immediate resignation, but Democrats pushed back against the implication that Gruenberg alone is to blame.

A scheduling conflict will prevent Federal Deposit Insurance Corp. Chair Martin Gruenberg from attending a House hearing on workplace misconduct allegations despite ongoing GOP scrutiny and prior calls for his resignation.

Acting Comptroller of the Currency Michael Hsu Thursday said AI providers and end-users — including banks — should share responsibility for errors that derive from artificial intelligence models.

As the private credit market swells, federal regulators and lawmakers continue to debate how and whether to apply oversight and heightened scrutiny to the market. But whether anything happens depends on whether President Biden wins a second term.