Organization Root Tag

Federal Deposit Insurance Corp. Chair Martin Gruenberg said the agency would prioritize urging banks to invest in underserved communities as part of a revised economic inclusion plan unveiled Thursday.

The first major hurdle arises for lenders that approach $100 billion in assets. That's when they have to deal with a key regulatory threshold, becoming so-called Category IV banks, which are subject to stiffer capital rules and oversight.

The decision to approve the fintech's application to make 7(a) loans came nearly a month after Funding Circle's U.K.-based CEO hinted it is considering a sale of its U.S. operations, alarming some members of Congress.

The CFPB should change its proposal and allow fintechs and other financial services companies the same freedom to innovate that entrenched large banks already enjoy.

A year ago, the National Community Reinvestment Coalition accused KeyBank of redlining. On Wednesday, the NCRC and Key announced a $25 million "agreement" that NCRC CEO Jesse Van Tol says could open the door to a new community benefits plan.

Federal Reserve Vice Chair Michael Barr Wednesday discussed regulators' ongoing concerns over banks' unrealized losses and commercial real estate values — particularly in the office sector.

Peter Doelger, 86, and his wife, Yoon's losses are testing whether Wall Street firms can be held responsible for what happens if clients lose the ability to understand their investments.

The Federal Reserve Board governor also said the central bank needs to make operational improvements to its last resort lending facility.

Visa is working with Thunes; LemFi and Western Union to expand its reach; Swift has completed testing of 38 global digital currencies, and more.

Weekend direct deposit would benefit workers, consumers and businesses. The Federal Reserve itself said it was in favor of such an expansion nearly a decade ago. There is no better time than now.

Banking regulators and the Department of Justice must decide whether the blockbuster deal raises antitrust concerns. Looming over their analyses are questions about how broadly or narrowly to define the relevant markets.

Despite advancements in AI for transaction monitoring, financial institutions share little in the way of fraud data, undermining efforts to combat crimes including check fraud.

The Federal Reserve governor said regulators should strive for clarity and consistency as they tweak their merger review processes. She also waved off concerns about regulators being a "rubber stamp" for bank combinations.

The Consumer Financial Protection Bureau received nearly 28,000 mortgage-related consumer grievances in 2023, the regulator said.

The agency's abuse of criminal investigative demands, with no recourse of overburdened small businesses, is yet another example of why it is viewed as a rogue agency, unaccountable to anyone.

A federal appeals court is putting the transfer of a lawsuit challenging the Consumer Financial Protection Bureau on hold pending the outcome of a hearing on the suit's appropriate venue.

The proposed data sharing rules could create opportunities for forward-thinking financial institutions to better serve their customers and meet ever-growing expectations for digital finance.

There are lingering questions related to the agency's 1033 proposal, including how to balance access to information with fraud prevention. But financial institutions should look for ways that access to additional data could help them create better products.

The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.

Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.