FDIC

The regulators have yet to complete rules on regional bank supervision, community bank capital and other provisions meant to ease institutions' burden.

Expanding exemptions for initial margin requirements on swaps transactions “would harm financial stability and U.S. taxpayers,” said the top Democrats on the House and Senate banking panels.

Jelena McWilliams said federal bank regulators have made progress in developing a proposal but acknowledged that the reform process has been slow.

Among other things, the letter asked the regulators to ease requirements for a new community bank leverage ratio and analyze the impact of the pending CECL accounting change.

Rakuten joins a growing list of fintechs trying to enter the regulated banking sector. All have faced their share of obstacles.

The eight "systemically important" banks currently file resolution plans annually, but a pending proposal would require them every two years.

The bank regulators extended a moratorium for the proprietary trading ban for certain affiliates of foreign banks by an additional two years.

The new funding comes as the challenger bank inches closer to gaining regulatory approval for a national bank charter.

The agency's board voted 3-1 on Tuesday to give large banks additional time to comply with new rules that force them to keep better track of insured deposits.

The FDIC's new complex institution supervision and resolution division will be operational July 21.