Organization Root Tag

Gary Quinzel, vice president of portfolio consulting at Wealth Enhancement Group, gives his views about monetary policy and offers his opinion on the FOMC statement and Fed Chair Jerome Powell's press conference.

Researchers wonder if similar regulatory attention could eventually hit the bottom lines of independent broker-dealers and RIAs.

High borrowing costs led to fewer mortgage originations in the second quarter, according to the Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit released Tuesday.

The proposed settlement would resolve allegations that USAA violated laws protecting those in the military from excessive interest rates. The bank said it "strongly disagrees" with the allegations.

With the Consumer Financial Protection Bureau joining the growing list of top enforcement agencies recognizing the value in whistleblowing, companies should take heed and avoid any provisions in employment and severance agreements that in any way impede or penalize whistleblowers.

The Consumer Financial Protection Bureau has received more than 11,000 comment letters on its proposal on personal financial data rights, but banks say the agency should ensure that more fintech partners take on their fair share of the rule's compliance burden.

The bank doubled down on promises to use legal action if the Consumer Financial Protection Bureau brings an enforcement action against it related to fraud on the Zelle platform, saying in a statement that it would "not hesitate to seek assistance from courts."

The agency admitted navigating the different rules and regulations involved in its four existing lines of credit proved time consuming and confusing and kept some lenders from offering them altogether.

Nine federal regulatory agencies are requesting comment on a rule that would create data standards for supervisory information collected and submitted to financial regulators.

The federal Project Fortress initiative provides defensive tools for banks. Community banking groups and regulators' associations say small banks in particular need the free and accessible help.

A report by the FDIC Office of the Inspector General found the agency failed to sustain corrective actions, leading to a persistent environment of sexual harassment, distrust of management and fear of retaliation.

Former employees' Minnesota lawsuit accuses the bank of overpaying for prescription drugs, claiming mismanagement of the bank's health plan drove up costs for workers.

Berkshire still holds almost 962 million shares, the filing shows — worth $39.5 billion at Monday's closing price.

The proposal is "significantly flawed" in its approach to corporate governance, the lawmakers said.

The London challenger bank has added deposits in an effort to keep customers from using banks and other fintechs; the Australian bank Westpac is offering cards to kids as young as 8; and more in our global payments and fintech roundup.

In addition to a new rule enabling more active review of large asset managers acquiring shares in FDIC-supervised banks, the FDIC board finalized living will guidance and requested public input on deposits.

The banking holding company's new type of private security, launched last year, also reached $3 billion in loans sold last month.

CEO Michael Miebach told analysts that a court's dismissal of an earlier agreement on interchange charges is disappointing, and he hopes to avoid a trial.

The Federal Deposit Insurance Corp. issued proposals Tuesday that would reverse Trump-era rules on brokered deposits and tighten the agency's guidelines for approving applications to incorporate new industrial loan companies.

Changes to the regulatory regime surrounding the Federal Home Loan banks should be carefully calibrated so as to do no damage to their successful support for housing and the provision of liquidity to members.