RICHMOND, Maine - (12/16/05) Bowdoinham FCU has backed away fromplans to buy a 62,000-square-foot building here on eight acres tobe its new headquarters. The credit union had planned to buy thebuilding, a former Etonic shoe factory, from the city for $500,000,but cited federal regulations and the likelihood it would have toinvest up to $250,000 to upgrade the space in making itsdecision.
The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a final rule Tuesday that softens leverage demands for the biggest and most systemically risky banks and lowers the community bank leverage ratio to 8%.
New guidance from the Office of the Comptroller of the Currency released Monday afternoon would streamline Bank Secrecy Act exams for community banks. The agency issued a separate request for information on consolidation and contracting power among core service providers.
Tariffs and inflation are pressuring consumers' wallets, but that's not deterring them from spending. It is pushing purchases earlier into the shopping season.
Saul Van Beurden, Wells Fargo's consumer banking CEO and former head of technology, will lead the way on harnessing artificial intelligence.
Noelle Acheson looks at recent proposals to allow payment institutions access to central bank liquidity, and what this could mean for both banking and economic resilience.
Comptroller of the Currency Jonathan Gould said in an exclusive interview with American Banker Monday that regulators must bring more new entrants into the banking industry, establish a level playing field between banks and fintechs, and shore up supervision amid mounting legal scrutiny.
