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In a letter led by Senator Elizabeth Warren, D-Mass., all Democratic members of the Senate Banking Committee asked Trump-appointed regulators to extend their consideration of public comment on the proposal to reduce a capital requirement on megabanks, citing insufficient rationale for the change and the potential systemic risks the change could introduce.

Junk bonds made Michael Milken the most important and richest person on Wall Street. But they caused many large thrifts to fail. Had he listened to his professors and pursued his Ph.D. in 1970, his legacy might have been different.

The Consumer Financial Protection Bureau has proposed reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers.

The Consumer Financial Protection Bureau has been investigating the failed banking-as-a-service fintech and is preparing to file a complaint accusing it of unfair acts or practices. 

Revenues were up for the quarter, but stock compensation-related expenses brought the neobank to a negative net income.

In this week's banking news roundup: Fulton Financial's Angela Snyder announces plans to retire as president of the Lancaster, Pennsylvania-based bank; Columbia Banking System in Tacoma, Washington, finalizes plans for its latest acquisition; Flagstar Financial opens its first private banking office in Florida; and more.

The security problem affects organizations with a hybrid Exchange environment, running applications in both on-premises servers and Microsoft's cloud.

The ranking Democrat on the Senate Banking Committee said growing uncertainty and risks in the financial system mean the central bank should increase the countercyclical capital buffer for the nation's largest lenders.

As the payment technology company diversifies revenue streams, buy now/pay later was a key driver in beating analysts' estimates for Marqeta's second-quarter earnings.

Slashing capital requirements for the largest banks shows where the Federal Reserve's priorities lie — and it's not with community banks. This will make it even harder for small banks to compete with their larger peers.