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The Federal Housing Finance Agency said in a long-awaited report that it will set up new guardrails for the Federal Home Loan Banks to ensure that the institutions are serving a housing-centric mission.
November 7
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In its opening bid in budget negotiations with the White House, Republican leadership in the House zeroed in on the Treasury, Securities and Exchange Commission and Consumer Financial Protection Bureau as targets for concessions. But how hard will the administration push back?
November 7
American Banker -
Often a harbinger of recessions, the fact that short-term yields are higher than long-term is not inherently bad, Federal Reserve Gov. Chris Waller said Tuesday, noting that in this case it could prove that market expectations are anchored.
November 7
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The new rules also expand the use of "proven protections," such as multifactor authentication, according to Adrienne Harris, superintendent of the New York State Department of Financial Services.
November 7
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Michael Hsu is voicing concerns about the increasing disintermediation of accountability for banking services as more banks collaborate with nonbank entities. In an interview, he also addresses industry concerns about the Basel endgame proposal and notes banks' growing interest in tokenizing real-world assets.
November 7
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Meta, Apple, Alphabet and other companies that offer digital wallets and payment apps would fall under U.S. Consumer Financial Protection Bureau supervision under a newly proposed rule aimed at treating nonbanks more like traditional counterparts.
November 7
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As banks increasingly explore the applications of generative artificial intelligence, regulators are deliberating about the systemic risks that the technology may pose because of their unpredictability, the potential for herd behavior, replication of human biases and AI's inability to predict extreme scenarios.
November 7
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Rep. Andy Barr, R-Ky., said that international cooperation in the Basel III endgame proposal is latest iteration of an opaque standard-setting process.
November 7
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A.E.A. Federal Credit Union in Yuma said it would acquire West Valley National Bank in a bid to expand into Phoenix and Las Vegas.
November 7
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A sweeping class-action suit in Miami federal court by investors who claim they lost billions in the collapse of FTX and seek to pin blame not just on Bankman-Fried and his inner circle, but also on celebrities who were paid to endorse it to the masses, as well as bankers, accountants and lawyers who propped up the empire's legitimacy.
November 7
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The agency said its investigation did not find that Rose had breached data protection law when she discussed the closing of a politician's bank account with a reporter, and said it regretted giving the impression that she had.
November 7
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After three decades of relying on large retailers like Macy's to promote its private-label credit services, the bank is taking its point-of-sale financing to smaller merchants via platforms like Shopify.
November 7
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His lawyers characterize him as a math nerd and not a criminal, but the mountain of evidence presented during his trial makes it hard to see him as innocent.
November 7
American Banker -
Five years after going public, with growth slowing and the stock trounced, losing 57% in just the last three months, investors are demanding a clear blueprint for how Adyen can get its mojo back.
November 7
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The Zurich-based bank posted a net loss of $785 million for the three months to September, its first quarterly loss in almost six years, as costs to absorb Credit Suisse came in at $2 billion. However, client inflows in its wealth management business — which included $3 billion of that was at Credit Suisse's wealth arm — exceeded expectations.
November 7
