WASHINGTON - (10/13/05) -- The Senate Banking Committee willofficially commence its inquiry into the adequacy of the floodinsurance and potential solutions for the massive shortfall incoverage in the hurricane-stricken Gulf States. The panel hasscheduled a hearing on the National Flood Insurance Program forOct. 18 where officials of the Federal Emergency Management Agency,the program's administrator, and other experts are scheduled totestify. Congress is studying potential ways to make up what isestimated at tens of billions of dollars of uninsured flood damagescaused by hurricanes Katrina and Rita.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27